Ant Financial, a associated association of Alibaba (BABA, Tech30), a tellurian firm corroborated by Chinese billionaire Jack Ma, announced Thursday it was shopping MoneyGram (MGI) for $880 million.
‘;
for (i = 0; i 4) {
afterParagraphFour = true;
}
currentParagraph = storytext.childNodes[i];
heights += currentParagraph.clientHeight;
if (heights = extent insertAfterThisParagraphIndex === -1) {
insertAfterThisParagraphIndex = SMARTASSET.setDivIndex(i);
console.log(“insert after divide series ” + i);
console.log(“HEIGHTS = ” + heights);
console.log(“LIMIT = ” + limit);
}
}
/* div with id=”ie_column” */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’
storytext.childNodes[i].id !== “undefined”
storytext.childNodes[i].id ===”ie_column”) {
heights = 0;
extent = 80;
insertAfterThisParagraphIndex = -1
}
/* embeds from twitter, facebook, youtube */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’
storytext.childNodes[i].classList.contains(’embed’)) {
heights = 0;
extent = 80;
insertAfterThisParagraphIndex = -1
}
/* cnn video actor */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘div’
storytext.childNodes[i].classList.contains(‘cnnplayer’)) {
heights = 0;
extent = 80;
insertAfterThisParagraphIndex = -1
}
/* images */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘img’) {
heights = 0;
extent = 80;
}
/* images stored in figure tags */
else if (storytext.childNodes[i].nodeName.toLowerCase() === ‘figure’) {
heights = 0;
extent = 80;
}
}
if (heights = 875 afterParagraphFour) {
storytext.childNodes[insertAfterThisParagraphIndex].insertAdjacentHTML(‘afterend’, smartAssetDiv);
smartasset = document.getElementById(‘smartasset-article’);
smartasset.style.float = ‘left’; // allows procedure to have content boyant to right
smartasset.style.marginRight =’20px’;
smartasset.style.marginBottom =’25px’;
}
}
SMARTASSET.setSmartAssetScript = function() {
console.log(‘starting setSmartAssetScript’);
SA = document.SA || [];
SA.push({
embedUrl: “https://smartasset.com”,
container: “#smartasset-article”,
version: 1.1,
data:
{ key: “bdknf2rinbhwvdksm6zbmhf3twrv4oih” }
/*{ key: “CNNe038d38a57032085441e7fe7010b0” }*/
});
console.log(‘finished in setSmartAssetScript push() call’);
var smscript = document.createElement(“script”);
smscript.type = “text/javascript”;
smscript.async = true;
smscript.src = (“https:” == document.location.protocol ? “https://” : “http://”) + “smartasset.com/embed.js”;
var s = document.getElementsByTagName(“script”)[0];
s.parentNode.insertBefore(smscript, s);
console.log(“finished whole duty of setSmartAssetFunction()”);
};
SMARTASSET.setSmartAssetDiv();
SMARTASSET.setSmartAssetScript();
MoneyGram batch rose scarcely 10% on a news.
The understanding could be one of a initial tests of how critical President Donald Trump is about enormous down on income transfers, also famous as remittances, to Mexico.
Trump has already due building a earthy wall on a extent with Mexico. Trump has formerly pronounced he would cruise levying large taxes — or even crude — remittances to Mexico if a nation would not compensate for a wall.
On Thursday, Mexican President Enrique Pena Nieto canceled a formerly scheduled assembly with Trump after a tongue on who is going to compensate for a wall ratcheted up.
MoneyGram already has a abounding remittances business. And final Oct — only a few weeks before a choosing — MoneyGram announced a understanding with Walmart (WMT) that would let business send income from Walmart’s U.S. stores to Walmart Mexico locations.
So will Trump approve of MoneyGram offered out to a Chinese company? Perhaps.
It’s value observant that Trump already had a assembly with Ma in New York progressing this month before a inauguration.
Trump praised Ma after a meeting, observant that Ma was a “great, good businessman and one of a best in a world.” Trump total that “Jack and we are going to do some good things.”
Could a Ant understanding for MoneyGram be a start of those good things?
Related: Trump threatens Mexico’s biggest income source
The White House was not immediately accessible for criticism about a due acquisition.
But executives from Ant Financial seemed to go out of their approach in a press recover to highlight that a understanding would be good for a employees of MoneyGram and consumers.
The dual companies stressed that MoneyGram will keep a headquartered in Dallas and that it should “maintain and grow a U.S.-based workforce.”
Ant Financial CEO Eric Jing pronounced in a recover that “we are committed to stability to deposit in MoneyGram’s workforce and flourishing jobs in a United States.”
But Jing didn’t bashful divided from a fact that MoneyGram is a vital actor in remittances from a U.S. to Mexico.
He pronounced a total Ant Financial and MoneyGram will “will yield larger access, confidence and morality for people around a universe to subtract funds, generally in vital economies such as a United States, China, India, Mexico and a Philippines.”
Related: 40% of a Mexican import is American
MoneyGram CEO Alex Holmes, who will sojourn with a association after a acquisition, total that a understanding will concede MoneyGram to enhance around a world.
Interestingly, Holmes likely that converging in a income send business was entrance a few years ago.
He pronounced in an speak in a Financial Times in Dec 2015 that “regulators wish some-more information” and that rising correspondence costs could put vigour on companies to merge.
There were even rumors that MoneyGram could breeze adult mixing with a opposition Western Union. (WU)
MoneyGram and Ant Financial pronounced Wednesday that they wish their understanding will tighten during a second half of this year. It will need regulatory capitulation around a creation though.
Related: Jack Ma and Donald Trump met to speak jobs
One of a regulators that monitors MoneyGram in a United States is a Consumer Financial Protection Bureau, a consumer watchdog group combined as partial of a Dodd-Frank financial remodel law that was a brainchild of now Senator Elizabeth Warren.
So it will be engaging to see either Democrats like Warren have any issues with a due merger, as good as either or not Trump gives his blessing to it.
Mexico’s executive bank recently pronounced that scarcely $25 billion in remittances done their approach into a nation from friends and kin vital outward a nation during a initial 11 months of 2016. Nearly all of that income was from people in a U.S.
–CNNMoney’s Patrick Gillespie contributed to this story.
Terms Conditions apply
NMLS #1136
camber {
color: white;
font-size: 10px;
}
div.before-the-bell-sponsor-banner > img {
position: relative;
width: 100px;
top: 1px;
right: -5px;
}
#mce-EMAIL {
background-color:
border: none;
color:
display: block;
font-size: 15px;
height: 40px;
margin: 0 auto;
margin-top: 15px;
text-indent: 10px;
width: 90%;
}
#mce-responses .response {
margin: 0 auto; margin-top: 5px; width: 90%;
}
div.mce_inline_error {
position: relative;
font-size: 12px;
padding: 5px 0px 0px 17px;
}
.btb-privacy-policy {
font-size: 12px !important;
color: white;
}
.btb-privacy-policy:hover {
color:
}
#mce-error-response {
font-size: 12px;
}
#mce-success-response {
font-size: 12px;
}
#mce-error-response > a{
font-size: 12px;
display: block;
}
]]>
Article source: http://rss.cnn.com/~r/rss/edition_business/~3/FznvrUam51A/index.html