The longest-dated Japanese government bonds attracted record foreign demand last month as money shifted out of U.S. debt in search of other safe havens as President Donald Trump’s aggressive tariffs sparked concerns of a U.S. recession. Overseas investors scooped up …
Sweden’s largest insurer Folksam said on Wednesday it has sold its stake in electric car maker Tesla over concerns about the company’s stance on workers’ rights. Tesla, headed by billionaire Elon Musk, is facing a backlash from unions and some …
The focus of a lengthy probe into PricewaterhouseCoopers LLP’s China business now shifts to Hong Kong after the accounting firm was hit with a record fine in the mainland over its audit of failed developer China Evergrande Group. Hong Kong’s …
Chinese regulators on Friday hit PwC’s auditing unit in mainland China with a six-month business suspension and a record fine of 441 million yuan ($62 million) over the firm’s audit of troubled property developer China Evergrande Group. Delivering a strong …
China Evergrande Group’s liquidators have launched court proceedings against PricewaterhouseCoopers LLP, another legal step to recover at least a fraction of creditors’ investments from the property giant. Lawyers of liquidators have started legal actions against PwC and PricewaterhouseCoopers Zhong Tian …
Chinese regulators have in recent months asked several large state-owned clients of PricewaterhouseCoopers (PwC) to drop the auditor as it braces for penalties over its work for troubled property developer Evergrande, said two sources. The regulators, mainly the Ministry of …
Britain’s insurers set out plans on Monday on how to channel billions of pounds freed up from their safety buffers into infrastructure such as EV charging stations to boost growth. The new Labour government in Britain has said that chunks …
Yield-hungry insurance firms are adopting an unconventional strategy: they’re skipping mortgage-backed bonds and buying the underlying whole loans outright. It’s a trend that’s picked up pace over the last few years. Last year alone, insurers increased their holdings of residential …
PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter said, as a regulatory investigation and an exodus of clients darken business prospects. The move follows Chinese regulators’ …
PricewaterhouseCoopers LLP is cutting staff across its China operations, according to people familiar with the matter, after an exodus of corporate clients diminished the accounting firm’s revenue prospects in the country. At least 100 staffers from different teams at PwC …
