FT News Briefing Japan opens for (foreign) business
Aug 22, 2024
PwC is facing a six-month ban in China due to issues with Evergrande's audit. Meanwhile, Mexico's judges are striking against controversial reforms by the president. A potential takeover bid for 7-Eleven could reshape Japan's M&A landscape, signaling a new era for foreign acquisitions. Japan's updated regulations aim to foster corporate consolidation but also spark debates on the impact of increased foreign investments.
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PwC China Ban
- PwC China faces a potential six-month business ban for failing to report Evergrande's inflated revenues.
- This marks Beijing's most stringent action against a Big Four accounting firm.
Mexican Judges' Strike
- Mexican judges initiated a strike in response to President Andrés Manuel López Obrador's proposal to elect federal judges.
- Obrador claims the judiciary is corrupt, but critics argue this move aims to increase his control.
7-Eleven Takeover Bid
- A Canadian company launched a bid to acquire 7&I Holdings, the Japanese owner of 7-Eleven.
- This potential deal could become the largest foreign takeover of a Japanese company in history.