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💥 Police in China have detained Tang Ning (唐宁) — the chairman of US-listed Chinese digital lender Yiren Digital (宜人智科) — and his wife Zhao Mei (赵玫 or 赵枚) after two related investment platforms failed to repay mainland investors for over four months. The Beijing Municipal Public Security Bureau said that it had recently launched an official criminal investigation into relevant companies associated with CreditEase (宜信财富) over suspected illegal activities and had arrested controllers, including a 53-year-old male with the surname Tang and a 51-year-old female surnamed Zhao. In 2015, Yiren went public on the New York Stock Exchange as a consumer loan arm of CreditEase, which was established in 2006. Tang is the founder and controlling shareholder of both CreditEase and Yiren. The notice came one day after CreditEase announced “a material default” on fixed-income-like products on two of its asset management platforms, after deciding to fully suspend repayments on the products on May 22. The firm attributed the decision to the scale-down and underperformance of inclusive finance and wealth management businesses. “The group may be balance-sheet insolvent, facing a significant debt shortfall,” CreditEase told high-net-worth investors in a note on Oct 11, after failing to dispose of “poor quality” underlying assets in the markets. No official disclosure on the repayment scale was given so far, though the outstanding amount was estimated to be between 30 billion yuan (US$4.5 billion) and 50 billion yuan. Following media reports on CreditEase in May, Yiren said in a statement that it was an independent company with a separate management team and operations from its controlling shareholder. It confirmed the defaulted products were offered by “affiliates of the company’s controlling shareholder”. In Yiren’s second-quarter results released at the end of September, Tang said the firm maintained “a disciplined approach” to the credit solution business and saw an “improvement” in later-stage delinquency rates. Controllers Tang and Zhao were subjected to mandatory criminal measures, Beijing police said on Oct 12, adding that affected investors could report their cases for the investigation and asset recovery. CreditEase said on Oct 11 that it remained committed to addressing the risks associated with fixed-income-like products in accordance with the law and expediting a fair payout to investors, while maintaining stable operations in loan-facilitation and other licensed businesses. It said it would attempt to accelerate the recovery of non-performing loans and the liquidation of valuable assets. scmp.com/business/banking-fi… 21jingji.com/article/2026101… m.163.com/dy/article/L92MQQ7…

You know how every few years you’ll see footage that you’ve never seen before on 9/11 and wonder how you’ve never seen it before Well that’s exactly what this is for me Chris York is on a family vacation and most of his footage is on the rooftop of Liberty Court a few blocks away from the World Trade Center In it, you see clear footage of the twin towers about a week before the September 11th attacks. Beautiful day, manhattan looks great. Then there’s a long delay in his camera roll. When it resumes (1 minute mark) the north tower is struck. You can see the earliest first responders at the base of wtc1 - including battalion chief’s Joseph pfiefer While Chris is filming, the South tower is struck, and he recalled later that he could physical feel the blast and the heat of the explosion. In my opinion this is rare footage and perspective 500 feet above the streets and 500 feet below the strikes. Never forget what took place 25 years ago today. Love and respect to those involved, those affected, and our great heroes who saved so many lives. Good bless America and its people.