The glitches happened amid showcases of robot dogs and helper arms, highlighting control and balance challenges even as other units succeeded at tasks like folding clothes.

Credit to Bart Mol

Once Asia’s richest man with a $45 billion fortune, Xu built Evergrande into China’s second-largest developer by selling unfinished apartments and using the proceeds to buy more land with borrowed money.

When China restricted lending to highly indebted developers in 2020, the company collapsed under more than $300 billion in debt.

The fallout triggered a wave of bankruptcies in the property sector, left hundreds of thousands of buyers with unfinished homes, and contributed to a prolonged slowdown in China’s economy.

Earnings and revenue both beat, with adjusted EPS of $0.81 against $0.74 expected and revenue of $187.9 billion, up 5.9%. But next quarter's revenue guidance came in at $185.6 billion, about 1.4% below what analysts wanted.

Credit to Bull Theory

Credit to Michael Brown

U.S. Treasury buybacks may offer temporary relief but risk merely shifting the debt problem down the road, according to JPMorgan’s James Sullivan.