Evergrande pledges to honour one debt payment, but default fears remain

The troubled Chinese property developer Evergrande has said it will make a debt interest payment due on Thursday, worth around €30 million, but uncertainty remains over a second payment of more than €70 million, which is also due. Investor fears over how the company will manage its massive debts of over €250 million have been allayed by the company's announcement. Also today, we report on how the global timber shortage is affecting the French construction sector.