Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Chinese conglomerate HNA on Wednesday said it had sold a majority stake in a Manhattan building in a $422 million deal, the latest in a slew of asset disposals undertaken by the group to ease an intensifying cash crunch.
HNA did not give details of the buyer, but a spokesman for the group confirmed the verity of a report by U.S. real estate news website Bisnow that earlier reported the sale of 850 Third Avenue and the deal value.
The website said the building had been acquired by Jacob Chetrit and his sons, Michael and Simon, citing statements from Michael Chetrit and MHP Real Estate Services.
MHP and another real estate investment firm ATCO Properties & Management sold their minority stakes in the building as part of the deal, the report said.
The report also pegged the deal value at $422 million, citing one unnamed source.
HNA in 2016 bought a 90 percent stake in the building, valued at $463 million, months before Donald Trump was elected U.S. president.
The U.S. government had ordered HNA to sell its stake in the building, whose tenants include a police precinct tasked with protecting Trump Tower, The Wall Street Journal reported in August.
Embattled HNA Group is more than a year into the process of unwinding a $50 billion acquisition spree that at its peak netted the company stakes in banks, fund managers, hotels, property and airlines, among other assets.
But faced with soaring debt and government scrutiny of aggressive dealmaking, HNA has pushed ahead with asset sales that have included real estate and stakes in hotels groups, and discussions on key overseas units such as Ingram Micro and its luxury $300 million-plus corporate "Dream Jet."
The group met bankers on Tuesday to tout a range of new assets for sale, spanning a hotel project in frozen Harbin and stakes in struggling online lender Dianrong, insurer Bohai Life and brokerage HNA Futures.
Reuters reported last month, citing people familiar with the matter, that China Development Bank was leading a team to supervise asset disposals as the group looks to scale back operations to just core assets.