Welcome to The Brink. It’s Giulia Morpurgo and Tasos Vossos in London, where we worked all weekend to report on Metro Bank’s rescue package. We also have news on China’s real estate giants Evergrande and Country Garden, US online car retailer Shift Tech and Israel’s bonds and CDS. Follow this link to subscribe. Send us feedback and tips at gmorpurgo1@bloomberg.net or DM on X to @gmorpurgo.
NOTE: From this week The Brink will change its publication schedule to Tuesday and Saturday — instead of Tuesday and Friday — at 11 a.m. New York time.
As far as bank crises go, it was over pretty quickly. UK lender Metro Bank had been teetering on the brink for years, but the situation only became dire last week as news leaked that Metro had hired Morgan Stanley on “options” to improve its finances. After some frantic weekend negotiations, a debt restructuring was in place by Sunday.
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