Author: 5amResearch

SHANGHAI – The Chinese authorities are examining the role of PricewaterhouseCoopers in China Evergrande Group’s accounting practices after the developer was accused of a US$78 billion (S$105 billion) fraud, ramping up pressure on the global accounting giant that audited a slew of developers before the sector’s meltdown. The country’s securities regulator this week accused Evergrande’s main onshore subsidiary Hengda Real…

  MUMBAI – India’s inequality gap has widened sharply under Prime Minister Narendra Modi’s decade in power, with the richest 1 per cent of the population now owning 40 per cent of the country’s wealth, a new study found. The top 1 per cent, or about 9.2 million people, earn 22.6 per cent of total income – the highest share…

The heads of leading U.S. airlines want to meet with Boeing and hear the aircraft manufacturer’s strategy for fixing quality-control problems that have gained attention since a panel blew out of an Alaska Airlines jetliner in January, people familiar with the situation said Thursday. The meeting is likely to take place next week, according to a person who spoke on…

SINGAPORE – Mr Mikkel Larsen, chief executive officer of Singapore’s Climate Impact X (CIX), a carbon credit exchange and marketplace, has announced his resignation, CIX said in a statement on March 21. Mr Larsen, 49, will remain in his role until a new or interim CEO is appointed. He will continue to serve as a member of CIX’s board thereafter,…

Leo Varadkar is to step down as Ireland’s prime minister in a shock decision, saying he was no longer the right person to lead his party into a general election due within a year. Varadkar, who has been Taoiseach since December 2022 and served previously in the role between 2017 and 2020, cited personal and political decisions but gave no…

THE HAGUE, Netherlands (AP) — In a decision hailed by an environmental group as a historic victory, an Amsterdam court ruled Wednesday that Dutch national airline KLM misled consumers in statements about sustainable aviation in a case that accused the carrier of “greenwashing.” Amsterdam District Court said in a statement that in some advertisements, that are no longer in use,…

The US Department of State announced the designation of former North Macedonia Special Chief Prosecutor, Katica Janeva; current mayor of Karpos, North Macedonia, Stevco Jakimovski; and former mayor of Kacanik, Kosovo, Xhabir Zharku, for their actions undermining the rule of law and the public’s faith in their respective governments’ democratic institutions and public processes. Janeva was found to be involved in corrupt acts,…

For too long, Americans have suffered from a convoluted property system that condemned them to pay some of the world’s highest commissions, up to 6 per cent on residential sales. The real estate agents’ lock on online listings drove up costs and combined with a shortage of affordable homes to shut all but the most affluent buyers out of the…

Republicans in the U.S. House of Representatives seeking to chart a part forward in their impeachment probe of President Joe Biden will on Wednesday question two former associates of his son Hunter. House Republicans say the president and members of his family improperly profited from policy decisions in which Biden, a Democrat, participated while vice president from 2009-17. The White House…

  BlackRock and Singapore sovereign wealth fund GIC are exploring the sale of a network of gas pipeline assets in Britain hat could fetch about US$2 billion (S$2.67 billion), according to people familiar with the matter. The owners are working with investment bank Jefferies Financial Group to find potential buyers for Kellas Midstream, the people said, asking not to be…

JPMorgan is facing nearly $350 million in fines from bank regulators due to issues with its trade surveillance program. The Office of the Comptroller of the Currency said Thursday that it was assessing a $250 million civil penalty against JPMorgan Chase Bank because it found that the company “operated with gaps in trading venue coverage and without adequate data controls…

  Ukrainian drones were used to hit multiple targets in a sweeping attack on Russia that reportedly ignited fires at two major oil facilities and saw armed groups cross into Russian territory. Russia’s Defense Ministry said nine of its regions were attacked by Ukrainian drones, while Ukrainian missiles were shot down over the Belgorod region early on March 12. The…

Benjamin Netanyahu’s ruling coalition is “in jeopardy”, according to a US intelligence assessment that highlighted mass protests against Israel’s prime minister and the prospect of looming elections. The conclusions over Netanyahu’s precarious political position were part of the US intelligence community’s “annual threat assessment” report on Monday, which reflects the “collective insights” of Washington’s intelligence agencies. “Netanyahu’s viability as leader…

  SINGAPORE – No Signboard Holdings is of the preliminary view that no action would have to be taken against interim chief executive officer Lim Teck-Ean. This comes after it having been legally advised with regard to allegations that the interim chief executive officer had breached his fiduciary duties, the food and beverage player said on March 11. In a…

  Bitcoin topped US$71,000 for the first time, advancing for a sixth straight day and taking this year’s rally to almost 70 per cent on the back of massive inflows into US exchange-traded funds.  The original cryptocurrency jumped as much as 3.2 per cent to US$71,631.45 on March 11.  “This rally comes following a weak Asian trading session in which…

As you read through the details of the DOJ investigation, ask yourself why Boeing was permitted to regulte itself. Deregulation is a choice made by government.  The Department of Justice (DOJ) has initiated a criminal investigation into the Boeing jetliner incident that occurred on an Alaska Airlines plane earlier this year, as reported by the Wall Street Journal. According to…