Global Markets: Chinese company trying to get employees to pay off its debt

By Commodity News Service Canada
WINNIPEG, Feb. 2, 2018 (CNS) – The following is a glance at the
news moving markets in Canada and globally.
Chinese conglomerate, HNA Group, is struggling under
mounting debt of an estimated US$90 billion due to foreign
investments and has reached out to its own employees for money.
The company sent multiple emails to its staff asking them to
invest their money into various company initiatives, in some
cases promising high returns. Some of the products closely
resemble high-interest loans. HNA Group is involved in numerous

industries including aviation, real estate, financial services,
tourism and logistics.
The United States Department of State’s third-ranking
official, Tom Shannon, announced Thursday he is stepping down
due to personal reasons. Shannon serves as under-secretary of
state for political affairs and is the most senior career
diplomat at the State Department. His departure is part of a
steady stream of senior career diplomats who have left since
Donald Trump became president.
U.S. employers added 200,000 jobs in January with wages
rising at the fastest pace in more than eight years. Raises
stemmed from the Republican tax cuts and minimum wage increases
in 18 states. The unemployment rate remained at 4.1 per cent for
a fourth straight month, the lowest level since 2000.

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