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China's HNA Group Co Ltd is in talks to buy a controlling stake in E-commerce China Dangdang Inc in a deal that could value the online marketplace at over $1 billion, two people with direct knowledge of the matter told Reuters. Dangdang, an Amazon Inc rival in China, is also in talks with other potential investors, said the people, who declined to be identified as the matter was private. Dangdang told Reuters it has been approached by investors and has not accepted any offer.
For the first time since 1989, a major debt rating agency downgraded their outlook on China. Moody's Investors Service slashed its rating on Chinese debt from Aa3 to A1 due to the possibility of a "material ...