Trump budget calls for Wall Street regulators to face restructuring
WASHINGTON, May 22 Two Wall Street financial regulators would face cuts or major structural changes under President Donald Trump's fiscal 2018 budget proposal
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AMSTERDAM Oct 8 Dutch bank and insurance group ING said on Monday it has agreed to sell its 33.3 percent stake in Chinese investment management firm China Merchants Fund for 98 million euros ($128 million) to the two other joint venture partners.
The financial services group is in the process of selling its Asian investment management and insurance operations as it seeks to repay state aid and meet European requirements for its 2008 state bail-out.
The Chinese divestment will result in a net gain of 64 million euros, ING said in a statement. The Dutch group could raise around $7 billion from the whole Asian insurance sale.
China Merchants Bank Co Ltd and China Merchants Securities Co Ltd are the buyers of ING's stake in the Chinese investment business, which has a market share of about 3 percent in the Chinese mutual funds market, ING said. (Reporting by Gilbert Kreijger; Editing by Sara Webb)
CHICAGO, May 22 The White House budget on Monday proposed $46.54 billion in cuts to federal government funding for the agriculture sector over the next 10 years.
BEIJING, May 23 As a controversial U.S. investment visa scheme comes under fresh criticism, Sam Walls of Little Rock, Arkansas, faces a different problem as he courts wealthy Chinese.