US Government blocks Moneygram's merger with Alibaba's Ant Financial

US Government blocks Moneygram's merger with Alibaba's Ant Financial

It began about a year ago, when Ant Financial made its offer for MoneyGram as part of a global expansion plan.

Moneygram chief executive Alex Holmes said he was disappointed by the outcome and noted the "geopolitical environment has changed considerably" in the year since the deal was announced.

"Ma, the founder of Alibaba, the world's largest online commerce platform, met with [President-elect] Trump a year ago and said he could create 1 million jobs in the U.S.by helping small businesses sell their products to the Chinese".

Both MoneyGram and Ant insist that the failed deal, which the latter paid $30 million for abandoning, doesn't mean an end to their efforts to worth together.

The decision by the Committee on Foreign Investment (CFIUS) comes as a blow to Alibaba boss Jack Ma's push into the world's biggest financial market.

Suspect on the run after shooting, wounding Tenn. officer
Wilson is wanted by the Knoxville Police and the TBI to face a charge of attempted first degree murder of a police officer. Prayers for our KPD brother in blue suffering from a gunshot wound after an East Knoxville traffic stop.

Legal & General Group Plc Has $353.56 Million Stake in Nike Inc (NKE)
Nike Inc has a 52-week low of $50.35 and a 52-week high of $65.18. (NYSE: NKE ) on Wednesday, June 29 with "Overweight" rating. With these types of results to display analysts, are more optimistic than before, leading 20 of analysts who cover NIKE, Inc .

OH teacher tells student he'll be lynched
The school went on to say that they "will continue to invest in training and resources on culturally proficient practices". She's thought about pulling her children from the district, but wants to stay and face these race-related issues head-on.

"In the last 30 days of 2017, the USA government launched a Section 301 investigation into Chinese intellectual property and technology transfer, self-initiated probes into Chinese-made aluminum products, and rejected China's market economy status at the World Trade Organization", Xinhua said in a commentary on Wednesday.

The Treasury Department presides over CFIUS and said the agency is "prohibited by statute from publicly disclosing information filed with CFIUS", CNN Money reported. The panel reviews proposed foreign acquisitions of USA companies on national security grounds. If the MoneyGram acquisition had gone through, the Chinese firm could have gained a foothold into financial services in North America. "We can not afford to ignore well-coordinated Chinese investments that target our critical and financial infrastructure", they added. "Ant Financial is a private company, neither owned nor controlled by the Chinese government". The U.S. government has also been pressing China on multiple fronts including fairer bilateral trade and greater market access for U.S. companies. "None of these investors participate in management or have board representation".

The acquisition would have been Ant Financial's first major move to expand its footprint overseas. Launched in 2004 as Alipay it now has 520 million users.

Some are nearly certain to read politics into this latest deal, noting that Trump has indicated he's willing to mix business with politics in the relationship with China.

The Trump administration has taken a hard line against China, and during the 2016 presidential campaign Trump frequently referred to China as a "currency manipulator".

Related:

Comments

Latest news

The Essentials of Being an Eco-Friendly Hotel
Conserve Energy Lights, water heaters, and air conditioning units, among other things, consume the most electricity in hotels. Through these actions, the hotel can build a better name by showing its clients how it values environmental sustainability.

Money Saving Tips for Business Owners
JJBender.com is a trustworthy and reputable source of used office equipment that offers a wide variety of products. And in today’s economy, every small business owner is looking for ways to save money and reduce expenses.

Supermassive black hole eats, burps and naps
A 2010 study discovered gamma-ray "bubbles" that extend some 50,000 light-years end-to-end from the center of our galaxy. Astronomers have caught a massive black hole letting out a "double burp" after bingeing on hot gas.

At 306 billion dollars, 2017 becomes costliest disaster year in United States history
Western wildfires fanned by heat racked up $18 billion in damage, triple the previous USA wildfire record, according to NOAA. But the cost and death tolls are expected to climb as new data on Puerto Rico's post-hurricane destruction emerge.

Royal Bank of Canada Reiterates Buy Rating for Discover Financial Services (DFS)
Rational Advisors LLC acquired a new stake in shares of Discover Financial Services in the third quarter valued at about $123,000. Also, it has an estimated price-earnings (P/E) multiple of 11.31 and a trailing 12-month price-earnings (P/E) multiple of 13.82.

Citizens Financial Group, Inc. (NYSE:CFG) In Potential Pullback Zone
Hence the difference between Predicted EPS and Actual EPS reported is $0.04/share which shows an Earnings Surprise of 6.3 Percent. Finally, Standard Life Investments LTD raised its stake in Citizens Financial Group by 56.5% in the second quarter. (NYSE:GIS).

Hold stock rating to see: Tandem Diabetes Care, Inc. (TNDM)
Sprint Corporation (NYSE:S)'s ATR-14 is at 0.18, while its weekly volatility is at 4.01% and monthly volatility is at 3.04%. Outperform is an analyst recommendation which means that a stock is expected to do slightly better than the market return.

Shares in Albemarle Co. (NYSE:ALB) Acquired by QUANTRES ASSET MANAGEMENT Ltd
After $1.08 actual EPS reported by Albemarle Corporation for the previous quarter, Wall Street now forecasts 12.04% EPS growth. It worsened, as 53 investors sold ALB shares while 158 reduced holdings. 77 funds opened positions while 161 raised stakes.

Crystal Palace vs Burnley predictions
Reverting back to an organised and disciplined unit in his favoured 4-4-2 formation, Palace have made themselves tough to beat. That is hardly an acceptable return for a striker Palace invested 27 million pounds ($36.91 million) in August 2016.

Palestinian youth martyred in occupied West Bank
Her mother Nariman, was also arrested when she visited Ahed at an Israeli police station, Al Jazeera reported. Israeli military raids into Palestinian cities, towns, and refugee camps are a near daily occurrence.

Challenges And Opportunities For Bazaarvoice, Inc. (BV), Entercom Communications Corp. (ETM)
Geode Management Ltd Limited Liability Company stated it has 0% in Entercom Communications Corp . (NYSE: ETM ) for 1,131 shares. Aureus Asset Management Llc increased Alphabet Inc Cap Stk Cl C stake by 451 shares to 1,976 valued at $1.90 million in 2017Q3.

Army soldiers fall from chopper as slithering exercise goes wrong
According to reports, the injured soldiers were part of the parade that will be held at Army Parade Ground in Delhi Cantonment. PTI reported that all exercises requiring security forces to slither down to the drop zone have been suspended by the Army.

PSC wants tax savings for utilities passed on to consumers
The Republican tax plan passed Congress late past year before President Donald Trump signed it just before Christmas. With the reduction in those costs, the PSC said in a press release, rate reductions could flow to MS customers.

First Solar, Inc. (FSLR)
Media headlines about First Solar (NASDAQ: FSLR ) have been trending somewhat positive on Thursday, according to Accern Sentiment. There are 384 institutional holders with active positions, accounting for 53.16 million shares in total. (NASDAQ: FSLR ) shares.

SNK Heroines Coming To Switch Later This Year
However, now it looks like things are changing and perhaps indicating that KOFXIV or future titles might head there as well. As a spiritual successor to SNK Gals' Fighters for the Neo Geo, SNK Heroines will continue on in the same tradition.

Other news