Las Vegas man charged with defrauding investors out of more than $8.5 million through sports betting scheme

Reuters

China property firm apologises for vacancy rate report after public debate

A Chinese property think tank owned by KE Holdings apologised on Thursday for sparking a “heated public discussion” with its report on rising housing vacancy rates in China, and said its assessment may not be sufficiently accurate. Beike Research Institute published a report on Aug. 5 after conducting a survey warning of oversupply due to high rates of unoccupied homes in major Chinese cities. The report said the average housing vacancy rate in 28 major cities is higher than in the United States, Canada, France, Australia and Britain, with a 7% vacancy rate in tier-one cities including Beijing, and 12% in tier-two cities.