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Monday Express: Morgan Stanley acquires stake in French asset manager

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Monday Express: Morgan Stanley acquires stake in French asset manager

* Morgan Stanley is investing at least €300 million in Tikehau Capital to acquire a 5.5% stake in the French asset manager, the Financial Times reports.

* Goldman Sachs is in discussions to buy France-based PAI Partners' B&B Hotels chain for about €2 billion, sources for Bloomberg News say.

* Bank of America Corp. is closing all three of its Topeka, Kan., branches on Aug. 27, The Topeka Capital-Journal reports.

* The New York Department of Financial Services took possession of Municipal CU and named the National Credit Union Administration as its conservator, claiming that the New York-based credit union was engaged in unsafe and unsound conditions after former CEO Kam Wong pleaded guilty to embezzlement charges.

* Chicago-based fintech Pangea is set to become the first digital remittance company to offer its customers a checking account linked to its core services, American Banker reports, citing the company's vice president of product, Shafiq Shariff.

* The White House is considering nominating Derek Kan, a senior adviser to Transportation Secretary Elaine Chao, to one of two open seats on the Federal Reserve Board, Bloomberg reports.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.