Diddy’s Los Angeles property burgled

Hundreds of truck drivers wait for dozens of ships to unload their containers in California as the White House announces that it will now work 24 hours a day in an attempt clear the backlog.

On the face of it, Chinese property developers' debts appear big enough to crash the national economy. But several factors could limit the real estate downturn and the threat of global financial contagion.

Since September, the name Evergrande has caused panic on stock exchanges around the world. Paralysed by $300 billion in debt (€260 billion), or the equivalent of 2 percent of Chinese GDP, the country's second-largest real estate developer is now threatening Chinese growth. Evergrande has more than 1,300 construction projects across China, as well as financial products, electric cars, livestock, bottled water and even a football club.

The Chinese property giant Evergrande has missed a key debt deadline and is inching closer to a possible restructuring. Financial Analyst Danni Hewson explains why the meltdown isn't sparking turmoil on global stock markets. Also in the show: the Carbon Disclosure Project releases its 2021 ranking of sustainable business practices.

Shares in the Chinese property company Kaisa have been suspended from trading in Hong Kong, as fears mount that the firm may be unable to make a $400 million debt payment due on Thursday. Kaisa is a much smaller player than the troubled giant Evergrande, but also has high levels of foreign debt. Also today, we look at how the United Arab Emirates has changed its working week to Monday-Friday to align with other international business hubs.

China is bracing itself for the possibility property group Evergrande could default on its huge $300 billion debt pile. Many of Evergrande's creditors are ordinary Chinese who may lose much of their life savings.

Looters enter a shop, restaurant after Superbowl in Los Angeles. Eyewitness video shows people breaking into businesses following Los Angeles Rams win.

The law would have allowed for the Serb-majority Republika Srpska to take over property owned by the central government. Serb leader Milorad Dodik said he does not accept the decision.

Find these stories and much more when you grab a copy of The Guardian on Friday.

In the first case of its kind, German prosecutors have seized several apartments belonging to a Russian lawmaker. So far other sanctioned assets have simply been frozen.

Los Angeles is a paradoxical city. It's among the first places that come to mind when one thinks of the rich and famous. But it's also home to one of the worst humanitarian crises in the United States. As many as 66,000 people there are estimated to be unhoused, including some 40,000 who live outside the shelter system. Activist Theodore Henderson, who has personally experienced houselessness in Los Angeles, joined us on Perspective to tell us more.

The condition that home buyers across China has been so dire that, they started collective disobedience in June, threatening to halt mortgage payments if the construction did not resume. Till July, homebuyers in 80 Chinese cities had refused to pay their mortgages, affecting the future of over 200 projects.