Why it matters

The U.S. and NGOs have long accused China of human rights abuses in the Xinjiang Uyghur Autonomous Region, where they say Uyghurs are forced to work producing cotton and other goods. Beijing has denied any abuses. 

For Shein, valued at $66 billion in a fundraising round last year, its IPO performance will partly hinge on what risks the FCA decides it must include in its prospectus, and how those are priced in. 

The post Shein IPO: UK regulator decision slowed by NGO challenge appeared first on Reuters News Agency.

Why it matters

The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today’s prices. It would further cement energy relations between India and Russia, which is under heavy Western sanctions over its invasion of Ukraine. 

The post Rosneft, Reliance agree biggest ever India-Russia oil supply deal appeared first on Reuters News Agency.

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China’s move marked the latest escalation in trade tensions between the world’s two largest economies ahead of President-elect Donald Trump taking office next month and sparked fresh concern that Beijing could next target other critical minerals, including those with even broader usage such as nickel or cobalt. 

The post China bans export of critical minerals to US as trade tensions escalate appeared first on Reuters News Agency.

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Discussions about a potential deal come during a challenging period for Worldline. Its shares have fallen by 92% since July, 2021 when investor enthusiasm for payments companies peaked, after recording three profit warnings within a year. 

The post Worldline attracts early stage interest from private equity firms appeared first on Reuters News Agency.

Building upon a criminal investigation first reported by Reuters in February, federal prosecutors in recent months have expanded their inquiries into whether ADM or its employees committed crimes including securities fraud and conspiracy, according to subpoenas reviewed by Reuters and people familiar with the probe.

The sprawling scope of the investigation, underway at the U.S. Attorney’s Office for the Southern District of New York, hasn’t previously been reported. 

The post Internal transactions at food giant ADM spark a sprawling criminal probe appeared first on Reuters News Agency.

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News about the potential liability, which could be as high as $2.8 billion with penalties, could strain VW’s India business. The company is a small player in India but has plans to invest $1.8 billion to build EVs and hybrids in Maharashtra. The Wolfsburg-based carmaker is also locked in an escalating dispute with its labour in Germany over plant closures and layoffs while Chinese competitors are attacking Europe’s established carmakers on their home turf. 

The post Volkswagen India unit faces $1.4 billion tax evasion notice appeared first on Reuters News Agency.

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Why it matters

The asset cap is seen as one of the toughest punishments that U.S. regulators can put in place, and its removal requires a vote by the Fed’s board of governors. Lifting the restrictions would be a major step forward for the bank’s cleanup efforts. Since the scandal emerged in 2016, it has been fined billions of dollars and slapped with a raft of regulatory punishments, some of which are still in place. 

The post Wells Fargo asset cap likely to be lifted next year appeared first on Reuters News Agency.

Why it matters 

The suspension, likely to be announced soon, would be the first such action by an Indian state government after U.S. prosecutors charged Gautam Adani and seven others with agreeing to pay bribes of $265 million to unidentified Indian government officials to obtain solar power-supply contracts. 

The post India’s Andhra Pradesh state likely to suspend Adani power deal appeared first on Reuters News Agency.