Recent News: Rio Tinto has appointed former McKinsey boss Dominic Barton as chairman

Chinese loans: The People’s Bank of China is planning to review its lending rates, a de facto benchmark for new loans. Traders and economists predicted that the prices would be cut, according to a Reuters survey.

Politics: China’s Standing Committee on National People’s Congress met today for a five-day conference to discuss legislation including the Labor Relations Act, the Anti-Crime Act and the Women’s Rights Policy.

Markets: U.S. stocks plummeted on Friday over the weekend as several major banks acknowledged the risks posed by rising prices and the variability of Omicron coronavirus. In New York, the S&P 500 benchmark fell by 1 percent. The tech-heavy Nasdaq Composite also ended the trading day slightly. Australian stocks declined while Japan’s futures were Monday morning.

KPMG does not offer any services to its former UK renovation business Interpath Advisory in a recent crackdown on the sale of Silentnight bed makers to a commercial firm.

The idea is part of KPMG’s efforts to improve its image after fines and extensive research.

It has also sought to reduce the risk of blocking a bid to apply to the UK Government for a temporary suspension of new government contracts, the Financial Times revealed on Friday.

KPMG sold 550 nonprofits and renovations, now called Interpath Advisory, to HIG Capital’s private fund in May for more than £ 350m.

Three months later, the Big Four company was fined £ 13m by a corporate court for a dispute over its restructuring business when it advised Silentnight to take office in 2011.

KPMG’s Interpath sale allowed the reconstruction business to thrive from Big Four accounting clients as it eliminated the possibility of conflict of interest.

However, KPMG has now decided not to send any work to Interpath, although there was no restriction on doing so based on what they are selling, according to people who are familiar with the matter.

Read more about KPMG.

The Canadian ambassador from Beijing has been appointed chair of Rio Tinto, a global miner who earns a living by supplying steel to Chinese companies.

Dominic Barton, best known for leading McKinsey management managers for nine years until 2018, replaces Simon Thompson after the company’s AGM in May.

In his remarks, Barton said he hopes to work with the Rio committee to implement a strategy that puts “decarbonisation at the heart of the business” and focuses on “building and promoting interdependence with the people around them”.

Rio cited his strong links in China, the Vancouver Teck Resources mine chief executive and the “determination to lead the Council” as reasons for his appointment.

The Anglo-Australian party launched a new search for a seat in March Thompson after announcing he would not run in the by-elections at his 202nd AGM. Aboriginal page in Australia.

“The tragic events in Juukan Gorge are a source of great sorrow and grief, as well as a clear violation of our mission as a company,” Thompson said at the time.

Rio’s board was criticized for its initial decision not to fire anyone after the incident in May 2020.

The pressure on Australian pension funds and other investors eventually led to the resignation of Jean-Sébastien Jacques and two other senior executives. A miner has been trying to repair his relationship with the community.

Read more about Rio seat.