China is considering a proposal to create a ministerial-level body to manage its state-owned banks and non-bank financial enterprises, two sources with knowledge of the plan said, a move that would strengthen Beijing’s grip on its lenders. China’s motivations for …
Accounting debacles at U.S.-listed Chinese companies have prompted a surge of securities fraud lawsuits, but investors might have trouble recouping their losses even if they win. More than one-fourth of the 94 U.S. securities fraud lawsuits seeking class-action status and …
China’s rail minister, facing public outrage over Saturday’s deadly train crash, has ordered a two-month safety review of railway operations and apologized for the accident which killed 39 people, state media reported on Tuesday. Internet users have flooded websites and …
A fake Apple store in China, made famous by a blog that said even the staff working there didn’t realize it was a bogus outlet, is probably the most audacious example to date of the risks Western companies face in …
The fourth time was the charm for shareholders suing the auditors of Shenzhen-based China Expert Technology. China Expert shareholders have been trying unsuccessfully to sue the company’s accounting firms for failing to detect an alleged $132 million fraud. U.S. District …
Some of the world’s leading clothing brands rely on Chinese suppliers that pollute rivers with toxic, hormone-disrupting chemicals banned in Europe and elsewhere, the environment group Greenpeace said on Wednesday. Adidas, Nike, Puma, Calvin Klein, Lacoste, Abercrombie and Fitch and …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has released the latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during June. Published by Impact Forecasting, the firm’s …
China has enacted a social insurance law that requires foreigners to pay into medical, pension and unemployment funds for the first time, but unclear implementation guidelines are fueling uncertainty among expatriates and their employers about the true costs. The law, …
Risks are growing that incidents at sea involving China could lead to war in Asia, potentially drawing in the United States and other powers, an Australian think tank warned on Tuesday. The Lowy Institute said in a report that the …
The string of accounting problems and stock plunges at publicly traded Chinese groups has sparked deep concerns across the world’s biggest audit firms, putting the so-called Big Four on alert from worries that their reputation could be brought down along …
