China’s Ministry of Finance (MOF) on Friday imposed a six-month business suspension on PwC’s auditing unit in mainland China over the auditing of Evergrande, the regulator said.
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PwC unit suspended for six months in mainland China over Evergrande audit
China’s Ministry of Finance (MOF) on Friday imposed a six-month business suspension on PwC’s auditing unit in mainland China over the auditing of Evergrande, the regulator said.
China suspends PwC for six months, fines firm $62 million over evergrande audit issues
Beijing has imposed a six-month ban and a $62.2 million fine on PricewaterhouseCoopers (PwC) following an audit that uncovered major financial misstatements at Evergrande Real Estate. This move is …
Bank of Beijing aims for top cross-border services
The Bank of Beijing will enhance its cross-border financial services and make continuous efforts to become the top service provider in this field, said Huo Xuewen, chairman of the bank, at a forum …
Attempt to boost demand stifled by wall of austerity
Finance chiefs in Beijing are testing new ways to boost the economy by encouraging demand, breaking with long-established practice as threats to the country’s growth target mount.
U.S.-China financial imbalance tied to weak domestic economies: IMF report
Huge financial imbalances between the U.S. and China can be chalked up to weaknesses in each nation’s domestic economy — as opposed to being primarily driven by unfair Chinese trade practices, …
A CEO went missing. Then his bank got a mysterious bill for $11 million
The request for payment from unspecified Chinese authorities only deepens the mystery surrounding the whereabouts of Bao, who founded boutique investment bank China Renaissance in Beijing in 2005 and …
China’s weak oil demand isn’t serious issue: Portfolio manager
Oil (CL=F, BZ=F) prices surged in Wednesday’s trading session amid worries that Hurricane Francine would disrupt US production in the offshore region for an extended period. Tortoise senior portfolio …
Albemarle Stock Soars as Lithium Production Cuts in China Boost Market Outlook
Albemarle shares jumped Wednesday following reports that a large Chinese battery producer plans to scale back lithium production.
China is no longer the ‘undisputed leader’ in attracting foreign investment as European companies look elsewhere
China continues to be a huge market for many companies, but market access barriers, tepid domestic consumption, and a more politicized business environment mean companies are looking at “defensive” …
China is no longer the ‘undisputed leader’ in attracting foreign investment as European companies look elsewhere
China continues to be a huge market for many companies, but market access barriers, tepid domestic consumption, and a more politicized business environment mean companies are looking at “defensive” …
Fast-greying China reviews retirement age amid economic slowdown and mounting pension bills
China’s top legislative body is considering raising the retirement age, which is among the lowest globally, to address economic pressures from a shrinking workforce and pension deficits. The move has …
BMW Cuts Financial Targets on Recall Costs, Low China Demand
BMW lowered its sales and earnings targets, saying expensive measures to fix a braking-system problem and muted demand in the world’s largest car market would dilute its bottom line.
