Jan 26, 2018

Chinese conglomerate under pressure to sell

Dan Primack

Chinese conglomerate HNA Group has agreed to sell an office building in Sydney, Australia to The Blackstone Group for around $161 million, per Reuters.

Why it matters: Because the once-acquisitive HNA is being forced to shrink in response to both its over-leveraged balance sheet and global regulatory scrutiny.

Go deeper at Bloomberg:

"For a company regularly in the news, HNA remains shrouded in mystery. American government officials are seeking more information about the conglomerate’s ownership, the Chinese government has been asking questions and the European Central Bank is considering a review of its own."

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Jonathan Swan

Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

Go deeperArrow1 hour ago - Politics & Policy
Dion Rabouin

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Go deeperArrow2 hours ago - Economy & Business
Axios

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.

Go deeperArrow3 hours ago - Economy & Business