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(Reuters) – HNA Group Co [HNAIRC.UL] is in talks to sell Ingram Micro Inc to private equity firm Apollo Global Management Llc (APO.N), a source familiar with the matter said on Friday, as the Chinese conglomerate continues to scale back operations. HNA hopes to sell the U.S classy cufflinks uk online. electronics distributor for $7.5 billion, including $1.5 billion in debt, the source said, adding that it is currently in talks with Apollo after rebuffing an earlier offer that it considered too low. HNA has already pushed ahead with asset sales that have so far included real estate and stakes in hotels groups..
Apollo declined to comment and Ingram was not immediately available for comment. HNA was not available for comment outside normal business hours in China. The Wall Street journal first reported here the news on Friday classy cufflinks uk online. Earlier this month, Reuters reported that China Development Bank was leading a team to supervise HNA’s asset disposals as the heavily indebted conglomerate unwinds a $50 billion acquisition spree and scales back to a point that will leave it holding only core assets. Bad debt managers China Cinda Asset Management Co (1359.HK) advised HNA and has been involved in talks with potential buyers for Ingram, which HNA bought for $6 billion in 2016, Reuters reported in November..
(Reuters) – Get ready for a long and ugly ride classy cufflinks uk online. On Friday, the Nasdaq Composite .IXIC closed almost 22 percent below its record high daily close on Aug. 29, signaling a nearly nine-and-a-half year bull market run for the index ended in late summer. That cumulative loss indicates Nasdaq is now in a bear market, typically defined as a decline of 20 percent or more from a 52-week or longer high close. Nasdaq has endured 10 previous bear markets since it was launched in February 1971. Six of them lasted a year or longer. In three of them the index lost more than half its value..
If this one bears any resemblance to its predecessors, investors should expect another eight to nine months of declines and their losses to deepen significantly from here. (Graphic: Past Nasdaq bear markets – tmsnrt.rs/2SgqhtU). Some key facts of past Nasdaq bear markets. * On average, they have featured a decline of 39.74 percent over 248 trading days, roughly the length of a calendar year classy cufflinks uk online. * The median decline has been 32.25 percent over 266 trading days. * The great dot-com bust of the early part of the century still stands as the index’s biggest and longest-lasting collapse. Nasdaq lost a gut-wrenching 77.93 percent over 674 trading days between March 2000 and October 2002..
(Reuters) – Wells Fargo & Co. (WFC.N) has been hiring overseas after pledging to eliminate thousands of jobs, according to a Department of Labor investigation. The department determined that American employees who have been laid off in Wells Fargo’s customer account management unit after Sept. 28 will be eligible for government aid under the Trade Adjustment Assistance (TAA) program classy cufflinks uk online. The program provides weekly income and training to help workers displaced by global trade find new jobs. The bank “has shifted to a foreign country the supply of a service like or directly competitive with the service supplied by the workers,” the TAA determination said..