Jul 5, 2018

Chairman of Chinese conglomerate HNA dies in France

Dan Primack

Wang Jian, at a celebration of HNA's 20th anniversary in 2013. Photo by Luo Yunfei/China News Service/VCG

Wang Jian, co-founder and chairman of Chinese conglomerate HNA, died Tuesday after falling off a wall in France while having his photograph taken.

Why it matters: Beyond the obvious human tragedy, Jian was architect of HNA's massive global expansion — when it invested more than $40 billion to buy big stakes in companies like Hilton. But he's also been helping to lead HNA's great unwind, as the firm had overextended itself, and his death could make that process more difficult.

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Axios

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2:30 p.m. ET: 1,506,936 — Total deaths: 90,057 — Total recoveries: 340,112 — Map.
  2. U.S.: Total confirmed cases as of 2:30 p.m. ET: 432,596 — Total deaths: 14,831 — Total recoveries: 24,235 — Map.
  3. Federal government latest: President Trump is preparing to launch a second coronavirus task force focused on reviving the U.S. economy.
  4. Public health latest: U.S. has expelled thousands of migrants under coronavirus public health order — Dr. Anthony Fauci said social distancing could reduce the U.S. death toll to 60,000.
  5. Business latest: The Fed will lend up to $2.3 trillion for businesses, state and city governments — Another 6.6 million jobless claims were filed last week.
  6. World update: Boris Johnson is moved out of ICU but remains in hospital with coronavirus
  7. 🎧 Podcast: Your hydroxychloroquine questions answered.
  8. What should I do? Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Keep ReadingArrowUpdated 8 mins ago - Politics & Policy
Axios

Boris Johnson moved out of ICU but remains in hospital with coronavirus

Johnson last December. Photo: Kate Green/Anadolu Agency via Getty Images

U.K. Prime Minister Boris Johnson has been moved out of intensive care but is continuing to be monitored at St. Thomas' Hospital in London, according to a Downing Street spokesperson.

Why it matters: It's a sign of improvement after Johnson spent three nights in intensive care for coronavirus. Foreign Secretary Dominic Raab remains in charge of the government.

Go deeperArrow15 mins ago - World
Felix Salmon

A pause button for debts

Illustration: Aïda Amer/Axios

Governments have forcibly put much of the U.S. and the global economy on pause in recent weeks, for very good reason. Factories, offices, sporting arenas, restaurants, airports and myriad other institutions have closed down. But one thing hasn't been paused: monthly debt-service obligations.

The big picture: The less movement and activity there is in an economy, the more the coronavirus curve is flattened. But the obligations in bond and loan contracts can't be paused. That's worrying CEOs who fear a wave of business failures if economic activity doesn't pick up next month.

Go deeperArrow24 mins ago - Economy & Business