The giant Chinese insurer that wanted to buy Starwood Hotels is walking away

Chinese insurance giant Anbang is walking away from its bid for Starwood Hotels, CNBC reports, citing Dow Jones.

Starwood shares were down more than 4% following the news.



More to come…

NOW WATCH: James Altucher makes an argument for not paying back your credit card debt

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at