China’s Anbang Insurance Group and a company owned by the family of US President Donald Trump’s son-in-law Jared Kushner have ended talks to redevelop a Manhattan office tower, a deal that had drawn scrutiny from lawmakers citing ethics concerns.
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Moody’s Investors Service warned on Wednesday that the financial risks facing China from a potential property downturn have grown as record lending has made banks more risk-prone while the government is less able to combat those risks.