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Simmering tensions between Beijing and Washington remain the top worry for American companies operating in China, according to a report by the American Chamber of Commerce in China released Tuesday. The survey of US companies said inconsistent and unclear policies and enforcement, rising labour costs and data security issues were other top concerns. It also said that, despite the insistence of Chinese leaders that Beijing welcomes foreign businesses, many still are hindered from free competition. The Chinese government has stated that it encourages foreign direct investment, but many of our members continue to encounter barriers to investment and operations including policies that discriminate against them and public relations campaigns that create suspicion of foreigners, the report said. The report welcomed an improvement in relations in 2023 that was capped by summit meetings of Chinese leader Xi Jinping and President Joe Biden, but said the US presidential election in November w
A company that provides services for immigrants in federal detention was ordered Tuesday to pay more than $811 million in restitution and penalties in a lawsuit alleging it used deceptive and abusive tactics. Nexus Services must pay roughly $231 million in restitution as well as penalties of $13.8 million to New York, $7.1 million to Virginia and $3.4 million to Massachusetts, according to a judgement filed in federal court for the Western District of Virginia in Harrisonburg. The Virginia-based company, its subsidiary Libre by Nexus and its three executives must also each pay more than $111 million in civil penalties. This judgment is a victory for thousands of immigrant families who lost their life savings and were targeted and preyed on by Libre, New York Attorney General Letitia James said in a statement. Libre exploited vulnerable immigrants and their families to pad its pockets, and that is illegal and unconscionable. James joined state attorneys general in Virginia and ...