foreign businesses

Yahoo, Fortnite Leave China

Yahoo has withdrawn from China, making it the latest in a host of foreign companies that have abandoned the country. Yahoo attributed its decision to the “increasingly challenging business and legal environment” in China....

World Bank Business Ranking Manipulated in China’s Favor

An independent investigation released by the law firm WilmerHale on September 16 found that high ranking staff members at the World Bank rigged data in the 2018 and 2020 editions of its flagship “Doing Business” report in order...

18 More Detained in GSK Probe

China’s state media report that at least 18 more people have been detained as the corruption probe against the British pharmaceutical giant GlaxoSmithKline (GSK) continues. From Ben Blanchard, Fang Yan, and Ben Hirschler...

In Industry Rife With Bribes, GSK Probe Continues

As China continues to investigate British pharmaceutical giant GlaxoSmithKline for bribery, Reuters extracts hints from China’s state media that other foreign pharmaceutical companies may soon find themselves facing...

U.S. Citizen Detained as Pharma Probe Spreads (Updated)

An American has been detained in China as part of a probe into multinational pharmaceutical companies that previously led to bribery charges against GlaxoSmithKline executives earlier this month. From Reuters: The unnamed...

GSK Admits China Execs May Have Broken Law

After probes into foreign companies operating in China led the government to accuse executives of British pharmaceutical company GlaxoSmithKline (GSK) of corrupt practices including bribery and artificial price inflation, a GSK...

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