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Willie J. Allen Jr. / AP

Bloomberg reports that Kushner Companies, owned by the family of Trump advisor Jared Kushner, is set to receive $400 million from Chinese company Anbang Insurance Group in a deal for a Midtown Manhattan skyscraper. The terms of the sale as seen by some as a sweetheart deal for the Kushners, plus it is set to take advantage of a controversial federal program that gives residency permits to foreign investors.

The response: "Kushner Companies has taken significant steps to avoid potential conflicts and will continue to do so," a spokesperson told Bloomberg. The White House said Jared would recuse himself from any matter as needed.

But consider that Anbang's ties to the Chinese government are so murky that Barack Obama refused to stay in New York's Waldorf Astoria after the company purchased it due to espionage concerns.

Go deeper

Biden to meet with U.S. financial regulators on Monday

Photo: Drew Angerer via Getty Images

President Biden will meet with financial regulators on Monday.

Driving the news: "The meeting will cover regulatory priorities including climate-related financial risk and agency actions to promote financial inclusion and to responsibly increase access to credit," said press secretary Jen Psaki, according to a press pool report.

Updated 5 hours ago - Economy & Business

The next worker fight: Time off for Juneteenth

Illustration: Annelise Capossela/Axios

Who gets paid time off to celebrate Juneteenth in the years to come will be uneven and complicated, if history is any guide.

Why it matters: Corporate America hasn't grappled with a new federal holiday since Martin Luther King Jr. Day was authorized almost 40 years ago. How they responded took years to evolve.