Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
BEIJING China's HNA Group , the aviation-to-financial services conglomerate that is facing a severe cash crunch, received an important lifeline on Friday from China Citic Bank Corp , which extended the group a 20 billion yuan ($3.2 billion) credit facility.
BEIJING More than a year ago, China abruptly shifted from a policy of providing its private conglomerates with cheap cash to push them to become global champions, and tightened capital controls and bank credit.
BEIJING, Feb 8 More than a year ago, China abruptly shifted from a policy of providing its private conglomerates with cheap cash to push them to become global champions, and tightened capital controls and bank credit.
BEIJING/SHANGHAI An HNA Group company has failed to make an early payment it had agreed to on a 1.7 billion yuan ($271.9 million) trust product that falls due next week, two sources with direct knowledge of the situation said, the latest indication of financial stress at the highly leveraged conglomerate.
SHANGHAI/BEIJING China's HNA Group has told creditors it faces a potential cash shortfall of at least 15 billion yuan ($2.4 billion) in the first quarter, even as the company moves to sell more assets and reduce its leverage. HNA representatives made the statement to major creditor banks at a meeting called by the provincial government last week in Haikou, one person with knowledge of the meeting said.It is the first time HNA has quantified the repayment problems it currently faces.
HONG KONG China's HNA Group has reached a deal to sell a building in Sydney to Blackstone Group for about $161 million, two people with direct knowledge of the matter said, as the embattled company divests some holdings and seeks new funding.
HAIKOU, China HNA Group chairman Chen Feng has expressed confidence that China's aviation-to-financial services conglomerate will manage its cash crunch, and continue to receive support from banks and other financial institutions this year.
BEIJING Global distressed-debt specialists are stepping up their dealmaking in China after a decade, betting that the country is becoming serious about developing a market to tackle its $256 billion of official non-performing loans (NPLs).
HONG KONG/BEIJING Talks have been called off between HNA Group and Value Partners Group over the Chinese conglomerate's purchase of a stake in the Hong Kong-listed asset manager, people familiar with the situation said.
SHANGHAI/BEIJING/HONG KONG In March 2013, retired chemical company employee Anne Xing, her older sister and their husbands visited a China Everbright Bank branch on the outskirts of Shanghai. A private wealth manager at the bank had a special deal to offer them.