Quote:U.S. regulatory officials have arrived in Beijing seeking to settle a long-running dispute over the auditing compliance of U.S.-listed Chinese firms, three people familiar with the matter told Reuters. The stand-off, if not resolved, could see Chinese firms kicked off New York bourses. This week the U.S. Securities and Exchange Commission (SEC) added over 80 firms, including e-commerce giant JD.com and China Petroleum & Chemical Corp to the list of companies facing possible expulsion. The talks between officials from the U.S. Public Company Accounting Oversight Board (PCAOB) and their counterparts at the China Securities Regulatory Commission (CSRC) can be described as 'late stage' after China made concessions in recent months, the people said. The PCAOB officials are expected to exit quarantine and start working next week, one of the people said. If this visit proceeds as expected, the PCAOB is likely to send a bigger team to China later this year to conduct on-site inspections of local auditors, the person said. Exclusive-U.S. regulators are in China for audit deal talks -sources
Quote:The heat wave will also have an economic cost—one that will ripple beyond the subcontinent. As I’ve written about before, the world is suffering through a shortage of crucial commodities, including keystone cereal crops such as wheat. When Russia invaded Ukraine, it scrambled an already strained global wheat market—Russia is the world’s largest wheat exporter; Ukraine, the world’s sixth largest—and sent prices soaring. India, which has enjoyed five straight years of record wheat crops, jumped in and offered to export more than usual.India’s Heat Wave Could Worsen the Global Food Crisis - The Atlantic
The heat wave has, for now, thrown those plans into doubt. Some Indian farmers have estimated that 10 to 15 percent of their crop has died, according to Monika Tothova, an economist at the Food and Agriculture Organization, a United Nations agency. But it’s too early to know exactly how the heat wave will shape the crop.