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/SINGAPORE U.S. regulators have charged the Chinese arms of the world’s five top accounting firms with securities violations, raising tensions in a regulatory standoff which experts say could kill off U.S. listings for Chinese firms if not resolved. Monday’s move indicated China was refusing to yield in talks with the United States over access to Chinese audit papers, trying to keep foreign regulators off what it sees as its turf. The Securities and Exchange Commission (SEC) wants the firms to supply documents relating to audits of U.S.-listed companies suspected of possible wrongdoing, but the audit firms say they are prevented [...]

ABIDJAN French companies must go on the offensive and fight the growing influence of rival China for a stake in Africa’s increasingly competitive markets, France’s Finance Minister Pierre Moscovici said on Saturday. France, which once ruled over much of West Africa as colonial master, continued to exert direct and indirect influence over its ex-colonies for decades through a murky system of patronage known as “Francafrique”. However, that regional reach is now being challenged by a new Chinese investment blitz. “It’s evident that China is more and more present in Africa…(French) companies that have the means must go on the offensive. [...]

NEW YORK Since the Dodd-Frank law gave shareholders a say in executive pay in 2010, courts have routinely rebuffed efforts by shareholders to force companies to heed their voice. Now, lawyers have found a new way to bring lawsuits over executive pay, resulting in a handful of legal settlements. But the settlements to date have produced no changes in executive compensation and no money for investors. In fact, the main financial beneficiary so far has been a small New York law firm that brought the bulk of the cases. The law firm, Faruqi & Faruqi, said the settlements benefit shareholders [...]

NEW YORK A new shareholder lawsuit over Hewlett-Packard’s acquisition of British software firm Autonomy has named Big Four audit firms Deloitte and KPMG as defendants, alleging they missed numerous red flags about Autonomy’s accounting. The lawsuit, filed on Tuesday in federal court in San Jose, California, also named HP’s board of directors, officers, and former executives, alleging breach of duty and negligence for their role in HP’s acquisition Autonomy. HP is expected to face a barrage of lawsuits by investors seeking to recoup losses. Its shares fell 12 percent to a 10-year low last week after it announced an $ [...]

A new report by Symantec shows that small businesses are increasingly the targets of cyber theft, with 36% of targeted attacks during the first half of 2012 directed at companies with 250 or fewer employees. Many small business owners consider their business too small to be a target, which is a mistake because hackers know that small businesses have more capital than the average individual. “Cyber criminals are business people, too,” said Arild Jensen, owner of Secos Security, a Granada Hills, Calif., firm that specializes in cyber security for small businesses. “They’re going to go for the easiest, most rewarding [...]

European businesses are putting “critical-only” travel plans in place Report: France, Italy and Spain have cut business travel spending in 2012Some fear employee productivity could sufferGrowth projections for 2013 remain cautiousLondon — New figures show that tough trading conditions across Europe are forcing many firms to making even tougher financial decisions — particularly when it comes to their travel budgets.Paul Tilstone, the managing director of the Global Business Travel Association (GBTA) in Europe, says it’s not surprising that companies are slashing spending on business trips.”What we’re seeing are companies putting in place critical-only travel plans and that has a knock [...]

Mining giant Vale is one of the many Brazilian firms eying Africa’s potentialIt plans to spend more than $ 12 billion on investments in Africa over the next five yearsAnalysts say Brazil is very keen to avoid being viewed as “neo-imperialist” powerTrade between Brazil and Africa jumped from $ 4 billion in 2000 to $ 20 billion in 2010Maputo, Mozambique — More Brazilian companies are moving into Africa amid a government drive to build closer economic ties with the continent.A year ago Vale, the Brazilian mining giant, exported its first overseas coal shipment from Mozambique.The shift of 35,000 metric tons [...]

LONDON European shares fell and the dollar firmed on Monday as low-risk assets gained at the start of a week in which the United States elects a new president and Greece faces a make-or-break parliamentary vote. The FTSEurofirst index of top European shares opened down 0.4 percent after ending the previous week at a two-week high. London’s FTSE 100 was down 0.4 percent, Paris’s CAC-40 was down 0.7 and Frankfurt’s DAX was down 0.6 percent. “You don’t want to have too much risk ahead of the U.S. election tomorrow, so I think everyone is going to be very cautious until [...]

In today’s often dicey global marketplace, a boss probably wouldn’t dream of sending you to Mexico, the Middle East or other world hot spots without kidnap and ransom insurance — K&R, for short. Haven’t heard of this specialty business insurance? That’s by design. While these unique indemnity policies are primarily tailored to reimburse companies for million-dollar ransom payments should a worker be kidnapped, hijacked or fall victim to a terrorist attack, the employees themselves are often intentionally kept in the dark about the coverage. “Your employer doesn’t want to tell you about the policy for obvious reasons,” says Dave Brumbach, [...]

SYDNEY Japanese shares declined on the first trading session of November, with the Nikkei Stock Average down 0.2% at 8,908.27. Decliners included tech-sector firms TDK Corp. , down 3.4%, and Fujifilm Holdings Corp. , down 3.2% after both firms cut guidance while reporting earnings. Elsewhere in the sector, Sony Corp, lost 3.1% ahead of its earnings report due later in the day. Panasonic Corp. shares were ask-only after the firm reported a near-$ 9 billion net quarterly loss late Wednesday. The dollar bought 79.86 yen, from �79.74 in late North American trading on Wednesday.