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      Real Estate Giant China Evergrande Will Be Liquidated

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      After multiple delays and even a few faint glimmers of hope, a Hong Kong court has sounded the death knell for what was once China’s biggest real estate firm.Months after China Evergrande ran out of cash and defaulted in 2021, investors around the world scooped up the property developer’s discounted I.O.U.’s, betting that the Chinese government would eventually step in to bail it out.On Monday it became clear just how misguided that bet was. After two years in limbo, Evergrande was ordered by a court in Hong Kong to liquidate, a move that will set off a race by lawyers to find and grab anything belonging to Evergrande that can be sold.The order is also likely to send shock waves through financial markets that are already skittish about China’s economy.Evergrande is a real estate developer with more than $300 billion in debt, sitting in the middle of the world’s biggest housing crisis. There isn’t much left in its sprawling empire that is worth much. And even those assets may be off limits because property in China has become intertwined with politics.Evergrande, as well as other developers, overbuilt and over promised, taking money for apartments that had not been built and leaving hundreds of thousands of home buyers waiting on their apartments. Now that dozens of these companies have defaulted, the government is frantically trying to force them to finish the apartments, putting everyone in a difficult position because contractors and builders have not been paid for years.What happens next in the unwinding of Evergrande will test the belief long held by foreign investors that China will treat them fairly. The outcome could help spur or further tamp down the flow of money into Chinese markets when global confidence in China is already shaken.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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      The International Court of Justice’s Ruling on Israel Tests International Law

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      Over the past month, we’ve watched an astonishing, high-stakes global drama play out in The Hague. A group of countries from the poorer, less powerful bloc some call the Global South, led by South Africa, dragged the government of Israel and by extension its rich, powerful allies into the top court of that order, and accused Israel of prosecuting a brutal war in Gaza that is “genocidal in character.”The responses to this presentation from the leading nations of the Western rules-based order were quick and blunt.“Completely unjustified and wrong,” said a statement from Rishi Sunak, Britain’s prime minister.“Meritless, counterproductive, and completely without any basis in fact whatsoever,” said John Kirby, spokesman for the United States National Security Council.“The accusation has no basis in fact,” a German government spokesman said, adding that Germany opposed the “political instrumentalization” of the genocide statute.But on Friday, that court had its say, issuing a sober and careful provisional ruling that doubled as a rebuke to those dismissals. In granting provisional measures, the court affirmed that some of South Africa’s allegations were plausible, and called on Israel to take immediate steps to protect civilians, increase the amount of humanitarian aid and punish officials who engaged in violent and incendiary speech. The court stopped short of calling for a cease-fire, but it granted South Africa’s request for provisional measures to prevent further civilian death. For the most part, the court ruled in favor of the Global South. Accusing the state created in the aftermath of the slaughter that required the coinage of the term genocide is a serious step. Scholars of genocide have raised alarms about statements from Israeli leaders and its conduct in the war while stopping short of calling the killing genocide. Some have welcomed South Africa’s application as a necessary step to preventing genocide.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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      After Help From Kenyan Police Is Blocked, Haitians Ask: What Now?

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      As Haiti sank into gang-dominated chaos, Kenya promised to send officers to pacify the streets. Now a court has rejected that plan, and there does not seem to be another.Gangs have taken over entire neighborhoods in Haiti’s capital, and killings have more than doubled in the past year, but for the organizers of the Port-au-Prince Jazz Festival, the show simply had to go on.So while judges an ocean away deliberated whether to send a contingent of officers to pacify Haiti’s violence-riddled streets, festival organizers made do by shortening the length of the event to four days from eight, moving the acts from a public stage to a restricted hotel venue and replacing the handful of artists who canceled.As 11.5 million Haitians struggle to feed their families and ride the bus or go to work because they fear becoming the victims of gunmen or kidnappers, they also are pushing forward, struggling to reclaim a safe sense of routine — whether or not that comes with the assistance of international soldiers.“We need something normal,” said Miléna Sandler, the executive director of the Haiti Jazz Foundation, whose festival is taking place this weekend in Port-au-Prince, the capital. “We need elections.”A Kenyan court on Friday blocked a plan to deploy 1,000 Kenyan police officers to Haiti, the key element of a multinational force meant to help stabilize a nation besieged by murders, kidnappings and gang violence.Haiti, the poorest country in the Western Hemisphere, has sunk deeper into turmoil in the nearly three years since the president was assassinated. The terms of all mayors in the country ended almost four years ago, and the prime minister is deeply unpopular largely because he was appointed, not elected, and has been unable to restore order.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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      Ukraine Criticizes HBO, Saying New ‘White Lotus’ Actor Supports War

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      On social media, Ukraine’s foreign ministry posted clips of the Serbian actor Milos Bikovic receiving a medal for cultural achievement from Vladimir Putin in 2018.Ukraine’s foreign ministry criticized HBO this week after Milos Bikovic was cast in the third season of “The White Lotus,” saying without evidence that the Serbian actor had supported Russia since its full-scale invasion of Ukraine.HBO announced on Jan. 12 that Bikovic, 36, would be joining the dark comedy about wealthy tourists at island resorts. On Wednesday, the foreign ministry of Ukraine made the accusations against Bikovic on social media, writing, “HBO, is it all right for you to work with a person who supports genocide & violates international law?”Bikovic was awarded the Pushkin Medal, which honors contributions to Russian arts and culture, by President Vladimir V. Putin in 2018 and received Russian citizenship by presidential decree in 2021.In February 2022, the day after the invasion began, Bikovic said on Instagram that he wished the war had not happened. “War and bloodshed on any side reminds us of how far humanity is from global unity and love,” he wrote in Russian and Serbian. “God save the lives of all those who are now in danger!”Ukraine’s foreign ministry and Bikovic did not respond to requests for comment. An HBO spokesman said questions should be directed to Bikovic’s representatives.President Biden has called Russia’s invasion genocide, and The New York Times has collected evidence of brutalities by Russia, including the willful killing of noncombatants.A 79-second video that Ukraine’s foreign ministry posted on social media interspersed scenes from “The White Lotus” with clips of Bikovic accepting the award from Putin and previous comments it said the actor had made about Russia. In a voice-over, it claimed that Bikovic was “the Kremlin’s foreign mouthpiece.”During Bikovic’s acceptance speech for the Pushkin Medal, he emphasized unity between Russia and Serbia. “What a joy for Russians and Serbs in our homeland because we have the same worldview,” he said in Russian.Ukraine barred Bikovic from entering the country in 2019 for what it called national security reasons. At the time, he told a Serbian publication that “from the human and poetic point of view the situation is absurd and interesting.”Before he was cast in “The White Lotus,” Bikovic acted in movies including “South Wind,” which follows a gang member in Belgrade; “Sunstroke,” about military officers remembering the collapse of the Russian Empire; “Ice,” in which he plays a figure skater; and “The Balkan Line,” about a military operation during the Kosovo war.Season 3 of “The White Lotus” is set to begin production in Thailand next month and is scheduled to air in 2025. It will feature Walton Goggins, Carrie Coon, Parker Posey and the returning cast member Natasha Rothwell. More

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      The Key Issues for Business in a Likely Trump-Biden Rematch

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      Clean energy investments, trade policy and more than one kind of uncertainty could be on the line.After beating Nikki Haley in New Hampshire on Tuesday, Donald Trump reaffirmed his position as the leading candidate to win the Republican nomination. That has business leaders facing the possibility of another Trump presidency, and their investors trying to figure out what it could mean for their bottom lines.The questions are, perhaps not surprisingly, coming from seemingly every corner of the economy.During Blackstone’s quarterly earnings call on Thursday, an analyst wanted to know if uncertainty over who would win a likely Biden-Trump matchup could freeze deal flow. (“I’d say transaction activity is going to be more tied to the Fed’s activities,” said Jonathan Gray, the company’s president and chief operating officer.)Elsewhere, on a call with the financial services company Bread, an analyst wondered out loud whether a second Trump administration might overturn a proposed rule on credit card late fees. (“Hope is not a strategy,” the company’s C.E.O., Ralph Andretta, replied.) And Jeff Arnold, the chief executive of the digital health company Sharecare, responded to a question at a conference about whether the election could threaten the Affordable Care Act. (“At the end of the day, do you think he’s going to be more interested in attacking the A.C.A. or something else?” he said of a potential Trump presidency. “ I think it’s probably going to be something else.”)The November election is still many months away, and executives are certainly not eager to talk about it. “Most business leaders are trying to stay away from politics, particularly in this presidential election year, as much as possible,” said Lori Esposito Murray, the president of the Committee for Economic Development at the Conference Board.But here are some of the key issues that are at the top of their minds.On some topics, neither Trump nor President Biden has the answer that businesses want. In a survey of about 1,200 C-suite executives by the Conference Board, the executives said their biggest risk was the rising national debt. While Haley has made reducing government spending part of her campaign, neither Trump nor Biden has made it a priority. “I don’t think there’s a candidate that is particularly encouraging on that issue,” Murray said.On corporate taxes, a second Trump administration would most likely have less effect than the first, which signed into law a cut to the corporate tax rate, to 21 percent from 35 percent, said Andy Laperriere, the head of U.S. policy at Piper Sandler. “I think it’s going to be a big enough challenge just to extend the individual tax cuts that are in place today that expire at the end of 2025,” he said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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      Indigenous Australians Plan to Go Bigger on Australia Day

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      “Invasion Day is the reason why we’re all here today, but we must go beyond that,” one activist said.The Australia Letter is a weekly newsletter from our Australia bureau. Sign up to get it by email. This week’s issue is written by Julia Bergin, a reporter based in the Northern Territory.Parades, Union Jack themed barbecues, angry protests, and reflective vigils — it’s 2024, and Jan. 26 in Australia remains a day that inspires many different reactions across the nation.Formally Australia Day but also known as Invasion Day or Survival Day, the date marks the violent arrival of British settlers to the continent in 1788, and it has a long history as a political flashpoint for Indigenous affairs.This year, a First Nations advocacy group in Darwin decided to go bigger — with a hybrid protest for Indigenous Australians, Palestinians and the people of West Papua, which was annexed by Indonesia decades ago, leading to a prolonged conflict.“Yes, Invasion Day is the reason why we’re all here today, but we must go beyond that,” said Mililma May, who runs the group, a nonprofit called Uprising of the People.Ms. May, a Kulumbirigin Danggalaba Tiwi woman, said that what was needed for all groups were practical and tangible ways to understand colonialism. By bringing separate protest movements together with a common goal “to demand land back,” she said she hoped Jan. 26 would unify oppressed groups and appeal to a broader cross-section of Australians.It’s also an effort meant to bring attention back to unresolved issues.In the months after the failure of the Indigenous Voice to Parliament referendum — devised to enshrine an Indigenous advisory group in the Australian Constitution — First Nations issues have dropped off the mainstream news agenda and slid down the government’s to-do list.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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      Orban Urges Hungary’s Parliament to Back Sweden’s NATO Bid

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      In a post on social media, the Hungarian leader said he would urge Parliament, as he has done in the past, to vote in favor of Sweden’s admission to the security alliance.Prime Minister Viktor Orban of Hungary said on Wednesday that he would “continue to urge” Hungarian legislators to vote in favor of accepting Sweden as a member of NATO, a day after Turkey, the only other holdout, endorsed the Nordic nation’s entry to the military alliance. The Turkish decision left Hungary isolated as the last country that has not yet approved NATO’s expansion. The Hungarian Parliament, which voted to accept Finland into the alliance last spring but left Sweden in limbo, is in winter recess and not currently scheduled to reconvene until Feb. 15.It was unclear whether Mr. Orban’s remarks, posted on the social media platform X after a conversation with NATO’s secretary general, Jens Stoltenberg, meant that the Parliament would swiftly vote on Sweden’s membership. He has often said in the past that he wanted Sweden to join NATO but that legislators were “not enthusiastic,” blaming Hungary’s repeated delays in accepting Sweden on the right of legislators to make their own decisions. Most analysts questioned that explanation, noting that Mr. Orban has a tight grip on the governing Fidesz party and that its members, who constitute a large majority in Parliament, invariably follows the prime minister’s instructions. He said on Wednesday that he wanted Parliament to vote in favor of Sweden’s membership “at the first possible opportunity,” but gave no indication of when that might be.Mr. Orban stood alone last month against other European leaders to torpedo an aid package for Ukraine worth $52 billion. Leaders will take another run at convincing Mr. Orban to fall into line when they reconvene on Feb. 1 for an extraordinary summit in Brussels. More

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      What You Need to Know About the 2024 New Hampshire Primary: The Run Up

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      Listen to and follow ‘The Run-Up’Apple Podcasts | Spotify | AmazonSupporters of former President Donald Trump cheer during a campaign rally on January 19 in Concord, N.H.Chip Somodevilla/Getty ImagesWarning: this episode contains strong language.On Sunday, after a disappointing finish in the Iowa caucuses and with just two days to go before the New Hampshire primary, Ron DeSantis ended his campaign for president.His decision made it official: The race for the Republican nomination is now a head-to-head contest between two wildly different candidates, Nikki Haley and Donald Trump.And now, the famously independent New Hampshire voters are going to determine how serious a contest it is.We’re looking for three big things.First, how Haley’s recent change in tone and sharpening attacks on Trump will play with independents. Second, whether Trump is as dominant here as he was in Iowa. And third, what the Democrats are up to — since there’s a contest here on that side too.About ‘The Run-Up’“The Run-Up” is your guide to understanding the 2024 election. Through on-the-ground reporting and conversations with colleagues from The New York Times, newsmakers and voters across the country, our host, Astead W. Herndon, takes us beyond the horse race to explore how we came to this unprecedented moment in American politics. New episodes on Thursdays.Credits“The Run-Up” is hosted by More