Money

Bain’s Shanghai office raided by Chinese police

Published

1 year ago

April 27, 2023

ticker NEWS

U.S. consultancy firm Bain has Shanghai office raided as relations between Beijing and Washington sour

As relations between Beijing and Washington continue to deteriorate, U.S. consultancy giant Bain says Chinese police have visited its office in Shanghai.

The firm says it is cooperating with authorities where appropriate.

Officers reportedly took away computers and phones.

Just last month, fellow U.S. company ‘Mintz’ was also raided and five local employees were detained.

Bain’s Shanghai office was opened in the city’s central business district in 2004 and it has additional offices in both Beijing and Hong Kong.

The global firm provides advice to public, private, and non-profit organisations.

U.S. businesses are becoming increasingly concerned about their prospects in China given current geopolitical tensions.

Tensions have heightened since former President Donald Trump triggered a trade war between the two nations in 2018.

They were recently frayed even further when the U.S. shot down an alleged Chinese spy balloon, which Beijing insisted was a weather monitoring device. #trending #featured

Leaders

Trump will plead not guilty to revised 2020 election criminal charges

Published

3 days ago

September 5, 2024

ticker NEWS

Former U.S. President Donald Trump will plead not guilty to fresh criminal charges in a revised indictment accusing him of attempting to overturn the 2020 election.

In a court filing, Trump waived his right to appear in court, authorising his lawyers to enter the plea on his behalf.

This revised indictment, brought by Special Counsel Jack Smith, maintains the original four charges, including obstructing Congress and defrauding the United States. #featured #trending

Leaders

Harris promises to boost SME in the U.S. with $50,000 tax deduction

Published

3 days ago

September 4, 2024

ticker NEWS

Vice President Kamala Harris is set to propose a significant tax deduction for new small businesses.

Under the plan, startups could claim up to $50,000 in tax deductions, providing crucial financial relief during the critical early years of operation.

This initiative aligns with efforts to stimulate economic growth and job creation across the country, particularly in sectors hard-hit by the pandemic. #featured #trending