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Chinese leader Xi Jinping’s government is promising to drag the economy out of a crisis of confidence aggravated by tensions with Washington, wilting exports, job losses and anxiety among foreign companies about an expanded anti-spying law BEIJING -- The Fangbiaogan Real Estate Agency in the southern city of Nanning is still waiting for China’s post-COVID rebound. Home sales are 30-40% below last year's depressed level after the economy barely grew in the latest quarter, according to the owner, who would give only his surname, Cai. He has cut staff by 80% to 40 employees. Their income from sales commissions has fallen as much as 90%. “People are worried,” said Cai. “They feel safer holding onto their savings instead of spending them.” Chinese leader Xi Jinping’s government is making ambitious promises to drag the economy out of that crisis of confidence aggravated by tension with Washington, wilting exports, job losses and anxiety among foreign companies about an expanded anti-spyi...

Eight people and six companies have been charged in a series of indictments with pervasive fraud in the construction industry, according to Manhattan DA Alvin Bragg Jr. Eight people and six companies have been charged in a series of indictments with pervasive fraud and corruption in the construction industry, motivated by “greed at all costs," Manhattan District Attorney Alvin Bragg Jr. said Tuesday while announcing the indictments. The defendants allegedly deceived government agencies that award projects to minority and women-owned Business es (MWBE). The Manhattan District Attorney's Office is charging the drywall and carpentry company JM3 Construction, its owner Lawrence “Larry” Wecker, project manager Michael Speier, and other co-conspirators for allegedly taking part "in multiple criminal scheme s to increase their Business and revenues to the detriment of their workers and fair com Pet ition within this industry," Bragg said. MORE: What to know about Manhatt...