(Corrects fifth paragraph to refer to U.S. securities and audit regulators, not U.S. and Chinese regulators) SHANGHAI/BEIJING (Reuters) -China on Saturday proposed revising confidentiality rules involving offshore listings, removing a legal hurdle to Sino-U.S. cooperation on audit oversight while putting the onus on Chinese companies to protect state secretes. The draft rules, announced by China’s…
SHANGHAI (Reuters) – A unit of troubled property developer China Evergrande Group said construction work has resumed at 95% of Evergrande’s projects across the country as of late March. Evergrande has resumed work at 734 developments in all of China as of March 27, including 424 projects recovering to normal construction levels, according to a…
SHANGHAI (Reuters) – China on Saturday proposed revising confidentiality rules involving offshore listings, removing a legal hurdle to Sino-U.S. cooperation on audit oversight while putting the onus on Chinese companies to protect state secretes. The draft rule, announced by the China Securities Regulatory Commission, is Beijing’s latest attempt to resolve a long-running audit dispute with…
(Reuters) -Australia formally signed a trade deal with India on Saturday as the two nations signalled an intention to forge closer trade ties. The Australia-India Economic Cooperation and Trade Agreement was signed in a virtual ceremony by Trade Minister Dan Tehan and India’s Minister of Commerce & Industry, Piyush Goyal. Australia’s Prime Minister Scott Morrison…
SHANGHAI (Reuters) -Telecoms giant Huawei Technologies has given its finance chief Meng Wanzhou, who returned to China in 2021 after nearly three years detention in Canada, the new rotating position of chairwoman, according to the company’s website. Meng, the daughter of Huawei founder Ren Zhengfei, will act as the company’s top leader and head Huawei’s…
By Lewis Krauskopf NEW YORK (Reuters) – As the U.S. stock market ends a rocky first quarter, investors are looking at what could support equities in the coming months – with high cash levels at companies one potential boost as executives deploy resources for share buybacks, dividends or deals. The S&P 500 posted its first…
By Jeffrey Dastin (Reuters) – The road to organizing Amazon’s first union in the United States was a long one for Christian Smalls. The 33-year-old had worked at Walmart, Target and Home Depot. A rapper early in his career, he gave up music to support twin children, and by 2015, he took a warehouse job…
By Aishwarya Nair (Reuters) – U.S. automakers on Friday reported a slump in first-quarter domestic sales, as the entire industry was slammed by chip shortages and disruptions to supply chains. Toyota, which in 2021 upstaged GM as the top-selling automaker in the United States, outsold the company in the first quarter on increased demand for…
By Howard Schneider WASHINGTON (Reuters) -Fear that the war in Ukraine would tilt the U.S. economy towards a 1970s-style bout of stagflation has given way to signs that Americans plan to keep traveling, returning to restaurants, and continuing a steady if still incomplete return to “normal.” The latest nonfarm payrolls report released Friday showed employers…
By Hilary Russ (Reuters) -The COVID-19 pandemic, labor shortage, Black Lives Matter movement and other social and economic forces have contributed to an uptick in high-profile union organizing across the United States including a victory on Friday at an Amazon.com Inc warehouse in New York City. Among U.S. wage and salary workers last year, 10.3%…
