Articles by admin

Britain’s accounting watchdog said on Thursday it has fined PwC 4.55 million pounds ($5.8 million) over its auditing of IT services company Redcentric.

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Switzerland’s biggest banks, UBS and Credit Suisse, have improved their capital positions but must strengthen their crisis planning, the Swiss National Bank said on Thursday, citing conclusions of financial watchdog FINMA.

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China may be an odd choice for investors seeking shelter from a Sino-U.S. trade war. Yet, money managers in Asia are pouring funds into Chinese stocks as the long-term promise of a growing middle class trumps more immediate fears about tariffs.

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Reliance Capital Ltd said on Thursday the observations of PricewaterhouseCoopers (PwC) about its fiscal accounts were “completely baseless and unjustified”, a day after the auditor withdrew from assessing the shadow bank’s fiscal year 2018/19 accounts.

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Chinese regulators should step up support for the economy and keep ample liquidity in the financial system, Vice Premier Liu He said on Thursday, suggesting Beijing would soon unveil more policies to bolster growth amid rising U.S. trade pressure.

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U.S. private equity investor KKR & Co Inc said on Wednesday it is selling Korea-based KCF Technologies (KCFT) to SKC, an affiliate of South Korean conglomerate SK Group, for 1.19 trillion won ($1 billion).

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Asian shares were led lower on Thursday as the Hong Kong market fell for second consecutive session following a day of massive street protests, while oil prices flirted with five-month lows due to higher U.S. crude inventories and a bleak demand outlook.

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Asian stocks stuttered on Thursday, dogged by the uncertainty over an intractable U.S.-China trade dispute, while oil prices flirted with five-month lows thanks to higher U.S. crude inventories and a bleaker demand outlook.

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The White House Office of Management and Budget has told the U.S. Congress it will now meet a two-year deadline to ban federal contracts with companies that do business with Chinese telecom giant Huawei, part of a defense law passed last year, according to a letter seen by Reuters.

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Nissan Motor’s chief executive said on Thursday he would discuss differences in views over the automaker’s plan to reform its governance directly with Renault, calling the French car maker an important shareholder and partner, Jiji news agency reported.

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Walmart Inc on Wednesday announced a sweeping overhaul at Jet.com, an online start-up it acquired in 2016 for $3.3 billion, after it failed to live up to the world’s largest retailer’s e-commerce ambitions.

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Engine maker CFM International is poised to announce one of the world’s largest jet engine orders with a deal for more than 600 engines from India’s IndiGo, industry sources said.

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U.S. President Donald Trump declined to set a deadline on Wednesday for levying tariffs on another $325 billion of Chinese goods and called the relationship with Beijing good but “testy” after China walked back commitments for a trade deal.

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The Republican chairman of the Senate’s antitrust panel criticized plans by the Justice Department and Federal Trade Commission to potentially investigate four of the biggest U.S. tech firms.

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Walmart Inc on Wednesday announced a sweeping overhaul at Jet.com, an e-commerce retailer it acquired in 2016 for $3.3 billion, and said it will eliminate the online business’s president.

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