 | The Morning Risk Report: Uneven Enforcement Worries U.S. Firms in China By Ben DiPietro | | Despite China's attempts at economic reform, U.S. companies say they haven't seen significant changes in the country's business environment three years into the effort, according to a survey of the members of the U.S.-China Business Council. The number of companies that are optimistic or somewhat optimistic about the five-year outlook for China is at its lowest level in a decade, the survey found, with 67% citing the country's policy and regulatory environment as the top issue affecting their outlook. "Most foreign companies are not seeing benefits from China's economic reforms," the survey report said." Addressing market access, intellectual property protection, and level-playing-field concerns in China must continue to be a priority during the remainder of the Obama administration and for the next president." When asked about cyber-related issues, 43% said they were very concerned about China's policies on information flows and technology security, with 36% saying they were somewhat concerned. IP theft was cited by 49% of respondents as a top cyber-related issue, with 43% naming cross-border information flows, 30% listing restrictions on virtual private network use and 14% citing plant and worker-safety risks from cyber intrusions. In the survey of the companies comprising the 220-member council, 15% of respondents said their organizations reduced or stopped planned investment in China in the past year, with 31% of those companies citing increasing market-access restrictions as the reason. For the coming year, 46% said their level of investment will remain the same, 46% said it will increase and 8% said it will decline. When asked about its policy environment, 34% said China's policy environment was better than other emerging-market countries, 32% said it was worse and 33% said it was the same. "Despite the challenges of a slowing economy and increasing domestic competition, China remains a priority market for American companies," the report said. | |  Retail Sector Risk: Building Effective Enterprise Compliance Strengthening compliance across a retail organization—from the farthest reaches of local stores and supply chain partners to the corporate offices and, ultimately, the board—can be a challenge for many retailers and calls for a new approach. Learn how starting from a current-state risk assessment, an enterprise compliance program can put the focus on having the right people, processes and technologies in place to strengthen a retailer’s ethics and compliance program, while addressing gaps in the flow of information throughout the organization. Continue » Read more Deloitte Insights » | | U.S. puts sanctions on Kony's sons. The U.S. Treasury Department imposed sanctions on the sons of Joseph Kony, leader of the Lord's Resistance Army. Salim and Ali Kony have been part of the group's hierarchy since 2010, Treasury said when announcing the sanctions. The U.S. imposed sanctions in March on Joseph Kony and the Lord's Resistance Army. | | U.S. government pays itself to settle case. Former Fannie Mae chief executive Daniel Mudd reached a "settlement" with the Securities and Exchange Commission in a crisis-era case it filed against him. The deal, filed on Monday, requires essentially nothing of Mr. Mudd, WSJ reports. The settlement includes a $100,000 payment—to be paid by Fannie Mae, which already pays its profits to the U.S. Treasury because it landed in government conservatorship in 2008. "One could see this as the government paying itself $100k to end the case," Mr. Mudd said in an email. |  | mike segar/Reuters |
| U.S. sued over transgender-rights regulation. Five states, a Catholic health network and other Christian health-care providers sued the federal government, hoping to block a new rule they say could require doctors to provide gender-transition treatments and procedures that conflict with their beliefs, WSJ reports. The lawsuit marks religious conservatives' growing engagement in the fight over transgender rights, which has rapidly emerged as one of the most explosive social debates of the Obama administration. Volkswagen faces recall in South Korea. South Korea ordered the local unit of Volkswagen AG to recall some of its Audi A8 models, WSJ reports, dealing a fresh blow to the German auto maker mired in a global emissions scandal. The company is beginning settlement talks in U.S. states over environmental law violations. Brussels demands full Renault report. Brussels has called for the French government to hand over the methodology and data behind its report on Renault amid criticism that a 10-month inquiry into vehicle emissions omitted important details about the carmaker's performance, FT reports. Trade judge clears Fitbit of stealing secrets. Fitbit Inc. did not steal rival Jawbone's trade secrets, a U.S. International Trade Commission judge ruled, dashing Jawbone's hopes of securing an import ban against Fitbit's wearable fitness tracking devices, Reuters reports. |
 | | | | India probes damage caused by leak of French submarine data. Reuters repors that India is investigating the extent to which secrets about French Scorpene submarines being built in the country have been compromised, its defense ministry said, after a leak of documents relating to its combat capabilities. Indian officials say it was caused by hackers from overseas, and the French naval contractor didn't rule out economic war. | | Lloyd's chief apologizes. Lloyds Banking Group PLC Chief Executive António Horta-Osório apologized to the British bank's staff following allegations that he had an affair while on a business trip, WSJ reports. The executive at the partly nationalized lender pledged to remain at the bank and push through the next stage of its strategy. |  | Zuma Press |
| Twentieth Century Fox film chief stepping down earlier than planned. The longtime chairman and chief executive of Twentieth Century Fox Film, Jim Gianopulos, will be stepping down nine months earlier than expected, WSJ reports. Mr. Gianopulos, who was originally slated to leave the film studio when his contract expired in June 2017, will now make way for his successor, Stacey Snider, on Sept. 1, Fox said in a news release Tuesday. Ms. Snider became co-chairman at Fox in 2014 following several leadership positions across Hollywood. Viacom chairman has until September to sell stake in Paramount. Viacom Inc. Chairman Philippe Dauman, who last week was ousted as chief executive, will have less than a month to update the board on a plan to sell a minority stake in Paramount Pictures, WSJ reported the company as saying. New details were offered in a regulatory filing from Viacom, days after it reached a settlement to end its drawn-out power struggle with National Amusements Inc., through which Sumner Redstone controls an 80% voting stake in the media giant. Valeant pays up for new CFO. Valeant Pharmaceuticals International's new chief financial officer, Paul Herendeen, is getting a big pay bump as part of his move from animal healthcare company Zoetis, CFO Journal reports, citing regulatory filings. The executive will be paid a base salary of $1 million, and is eligible for a bonus as high as $2.4 million as part of his deal with Valeant. CFOs fill gaps left by COOs. Finance chiefs may be filling the void left by chief operating officers, CFO Journal reports. Nearly 30% of S&P and Fortune 500 companies have a sitting COO, down from 48% in 2000, according the 2016 Crist|Kolder Volatility Report. |
| | | | | Southwest's labor acrimony threatens the company's reputation. Southwest Airlines Co., proud owner of a storied corporate culture that values fun, hard work and a maverick mindset, is contending with an unaccustomed challenge: hostile public disputes with its labor unions, Bloomberg reports. |  | Skip O'Rourke/Associated Press |
| EpiPen price hike sparks outrage, questions from lawmakers. A steep increase in the price of the EpiPen, a lifesaving injection device for people with severe allergies, has sparked outrage among consumers and lawmakers who worry that parents won't be able to afford the pens for children heading back to school, NY Times reports. The company's CEO is the daughter of a U.S. senator, making lawmakers questions awkward. |
| Airbnb faces crackdowns in cities. Airbnb Inc. is shaking up the hospitality industry by helping turn people's homes into hotel rooms. Now it is facing turbulence of its own, WSJ reports. Solar industry faces supply glut. Solar manufacturers that are ramping up production now face a looming glut of panels, forcing companies to adjust or face dire consequences, Bloomberg reports. | | Strong demand for Samsung phone strains supply chain. Better-than-expected demand for Samsung Electronics Co Ltd.'s new Galaxy Note 7 is causing supply constraints globally, the South Korean tech giant said, suggesting strong initial sales for the new premium smartphone, Reuters reports. While robust demand could help deliver another solid quarter of earnings, Samsung also risks missing out on potential sales if it cannot boost supply quickly. | |
0 Response to "The Morning Risk Report: Uneven Enforcement Worries U.S. Firms in China"
Posting Komentar