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13.09.2024 13:52
China slaps PwC with 6-month suspension over Evergrande audit - Nikkei Asia HONG KONG -- Chinese authorities on Friday hit PwC with a six-month suspension on the mainland and millions of dollars in fines for the auditor's work on defaulted property developer China Evergrande Group.The Ministry of Finance made the announcement in the afternoon, citing PwC's Evergrande auditing from 2018 to 2020. Regulators fined PwC a total of 441 million yuan ($62.1 million). Out of that, the China Securities Regulatory Commission imposed a 325 million yuan penalty, while the ministry levied a fine of 116 million yuan.

13.09.2024 14:03
Japan retail chain Nojima president offers advice via AI alter ego The president of Japanese electronics retail chain Nojima Corp. is now offering advice to employees via his alter ego, created by an application using artificial intelligence, the firm said Friday. Nojima has developed the app with Happiness Planet, a Hitachi Ltd. group firm that offers software and services aimed at boosting corporate efficiency. Nojima employees can type their questions and seek advice from President Hiroshi Nojima on work-related concerns, with responses coming from generative AI. Read full story here

13.09.2024 15:07
Sumo: Onosato beats Shodai to keep outright lead on Day 6 Burgeoning star Onosato blew away former ozeki Shodai to retain sole possession of the lead at the Autumn Grand Sumo Tournament on Friday. The 24-year-old sekiwake demonstrated overwhelming power as he pushed out No. 4 maegashira Shodai and improved to a perfect 6-0 on Day 6 at Ryogoku Kokugikan. Read full story here

13.09.2024 15:27
India's Adani Group eyed in Swiss money-laundering case - Nikkei Asia BENGALURU -- A Swiss court has frozen $311 million from a company that allegedly laundered money for India's Adani Group through offshore funds in Mauritius and Bermuda -- claims that the ports-to-telecom conglomerate has blasted as "absurd."A 12-page ruling by the Federal Criminal Court showed that prosecutors froze the assets of a company identified as A.Ltd as part of an investigation into its owner that began in December 2021, more than a year before U.S.-based short seller Hindenburg Research alleged that Adani had engaged in "brazen stock market manipulation".

13.09.2024 16:48
Nippon Steel sends letter to Biden over U.S. Steel acquisition Nippon Steel Corp. said Friday it has sent a letter to U.S. President Joe Biden, as its $14.1 billion buyout of United States Steel Corp. is at risk of falling through. The letter, signed by Nippon Steel Chairman and CEO Eiji Hashimoto and U.S. Steel President and CEO David Burritt, was sent on Sunday. Biden is reportedly preparing to block the deal, citing potential national security risks related to foreign ownership. Read full story here