LONDON: PwC, Deloitte, KPMG and EY should ring fence auditing as a separate business by June 2024 to improve the quality of auditing, Britain’s accounting watchdog said on Monday . Corporate failures at builder Carillion and retailer BHS led to three government-backed reviews that recommended a shake-up of auditing, but […]
Business
BEIJING: Ford Motor’s China ventures reported year-on-year sales growth for June as the world’s biggest auto market continues to recover from coronavirus-induced lows. The U.S. automaker’s Chongqing-based venture with Changan said on Monday its sales jumped 7.7 per cent from a year earlier. It did not disclose the number of […]
SYDNEY/HONG KONG: Asian shares scaled four-month peaks on Monday (Jul 6) as investors counted on a revival in Chinese activity to boost global economic growth, even as surging coronavirus cases delayed business re-openings across the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.6 per cent to […]
REUTERS: The valuation of Asian shares surged to a 10.5-year high in June, tracking a rally in global stocks, as upbeat US and China data renewed hopes of a swift economic recovery, offsetting concerns over rising coronavirus cases. The MSCI’s broadest index of Asia-Pacific shares gained 4.83 per cent last […]
The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector stopped contracting, and highlighting the economic recovery from the coronavirus pandemic. TOKYO: The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. […]
PARIS: China’s Huawei is not totally banned from France’s next-generation 5G wireless market, but French operators using them will only get limited licences, the head of the national cybersecurity agency told Les Echos newspaper on Sunday (Jul 5). The comments were the latest development in the controversy over Huawei’s involvement, […]
Domestic saving, already depressed, is headed deep into negative territory, says Stephen S. Roach. NEW HAVEN, Connecticut: Pandemic time runs at warp speed. That’s true of the COVID-19 infection rate, as well as the unprecedented scientific efforts under way to find a vaccine. It is also true of transformational developments […]
LONDON: China’s Huawei has clear conditions to meet for Britain to continue to allow its involvement in the development of 5G telecoms infrastructure, Britain’s health minister said on Sunday, after a report that the firm would be banned from the project. Officials are drawing up proposals to stop installing Huawei […]
BEIJING: China’s Semiconductor Manufacturing International Corp (SMIC) will raise 46.29 billion yuan (US$6.55 billion) in a Shanghai share sale, more than double its initial target, pricing its offering following a surge in its Hong Kong-listed stock. The company, which had originally sought to raise about 20 billion yuan, set the […]
JAKARTA: An Indonesia-Australia deal that eliminates most trade tariffs between the two nations and aims to open up investment, took effect on Sunday (Jul 5), Indonesia’s Trade Ministry said. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), signed last year and ratified by the Indonesia’s parliament in February, aims to boost […]