The French shipbuilder Naval Group has described Australia's decision to cancel a multi-billion euro contract to build 12 submarines as a "major disappointment". The deal – first agreed in 2016 – has been the subject of debate in Australia for years over potential delays and rising costs. Naval Group is now in line for tens of millions of euros in compensation from Canberra for breaking the contract. Also today, we look at the latest worries over Chinese property developer Evergrande.

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