Chinese stocks trading in New York rebounded as an accord between U.S. regulators and Deloitte Touche Tohmatsu CPA Ltd. damped concern that a ban on the Asian nations’ accounting firms would delay earnings reports.
Deloitte Touche Tohmatsu CPA Ltd. agreed with the U.S. Securities and Exchange Commission to end a lawsuit aimed at forcing the China-based firm to release documents related to its audits of Longtop Financial Technologies Ltd.
Anglo American Plc’s decision to quit plans for a coal port expansion in Australia leaves Indian billionaires G.V. Krishna Reddy and Gautam Adani as the last major investors left looking at extending the terminal.
Deloitte Touche Tohmatsu CPA Ltd. should be ordered to appear in a U.S. Court for rejecting a Securities and Exchange Commission demand for documents related to an investigation of its former client Longtop Financial Technologies Ltd., an SEC lawyer said.
Chinese affiliates of the four largest accounting firms plan to file an appeal to U.S. regulators as soon as today to reverse an administrative judge’s decision to bar them for six months after they stymied investigations of possible accounting fraud.
Chinese affiliates of the four largest accounting firms were barred for six months from leading audits of U.S.-listed companies after failing to comply with Securities and Exchange Commission orders for documents at the heart of a series of accounting fraud probes.