Latest news with #Teneo
New Indian Express
2 days ago
- Business
- New Indian Express
US and China to talk in Stockholm on trade with eye on Trump-Xi summit later this year
Fentanyl-related tariffs are likely a focus for China In Stockholm, Beijing will likely demand the removal of the 20% fentanyl-related tariff that Trump imposed earlier this year, said Sun Yun, director of the China program at the Washington-based Stimson Center. This round of the U.S.-China trade dispute began with fentanyl, when Trump in February imposed a 10% tariff on Chinese goods, citing that China failed to curb the outflow of the chemicals used to make the drug. The following month, Trump added another 10% tax for the same reason. Beijing retaliated with extra duties on some U.S. goods, including coal, liquefied natural gas, and farm products such as beef, chicken, pork and soy. In Geneva, both sides climbed down from three-digit tariffs rolled out following Trump's "Liberation Day" tariffs in April, but the U.S. kept the 20% "fentanyl" tariffs, in addition to the 10% baseline rate — to which China responded by keeping the same 10% rate on U.S. products. These across-the-board duties were unchanged when the two sides met in London a month later to negotiate over non-tariff measures such as export controls on critical products. The Chinese government has long protested that American politicians blame China for the fentanyl crisis in the U.S. but argued the root problem lies with the U.S. itself. Washington says Beijing is not doing enough to regulate precursor chemicals that flow out of China into the hands of drug dealers. In July, China placed two fentanyl ingredients under enhanced control, a move seen as in response to U.S. pressure and signaling goodwill. Gabriel Wildau, managing director at the consultancy Teneo, said he doesn't expect any tariff to go away in Stockholm but that tariff relief could be part of a final trade deal. "It's possible that Trump would cancel the 20% tariff that he has explicitly linked with fentanyl, but I would expect the final tariff level on China to be at least as high as the 15-20% rate contained in the recent deals with Japan, Indonesia, Vietnam," Wildau said.
Yahoo
17-07-2025
- Business
- Yahoo
Teneo acquires PwC's Australia restructuring unit to expand financial advisory presence
(Reuters) -Teneo said on Thursday it has acquired the Australia business restructuring services unit of auditing firm PwC, as the management consultancy seeks to expand its financial advisory presence in the region. Under the deal, about 80 members of PwC's Australia business restructuring services team will join Teneo and will provide wide range of financial services in the country, including expertise in local and international restructuring and insolvency situations. Stephen Longley, who has led PwC's Australia business restructuring services team for the last four years, will become head of financial advisory Australia at Teneo, according to a company statement. "We see significant opportunity both in the Australian market and the wider Asia-Pacific region for a critical events advisor of scale, and this acquisition gives us an outstanding platform for growth," said Daniel Butters, CEO of Teneo's financial advisory business. Teneo's financial advisory division currently employs nearly 600 people globally, providing services including business restructuring, corporate insolvency, and bankruptcy, among others. Teneo plans to open its first Australian office in Brisbane in the coming weeks. The company did not disclose the deal's value. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
17-07-2025
- Business
- Reuters
Teneo acquires PwC's Australia restructuring unit to expand financial advisory presence
July 17 (Reuters) - Teneo said on Thursday it has acquired the Australia business restructuring services unit of auditing firm PwC, as the management consultancy seeks to expand its financial advisory presence in the region. Under the deal, about 80 members of PwC's Australia business restructuring services team will join Teneo and will provide wide range of financial services in the country, including expertise in local and international restructuring and insolvency situations. Stephen Longley, who has led PwC's Australia business restructuring services team for the last four years, will become head of financial advisory Australia at Teneo, according to a company statement. "We see significant opportunity both in the Australian market and the wider Asia-Pacific region for a critical events advisor of scale, and this acquisition gives us an outstanding platform for growth," said Daniel Butters, CEO of Teneo's financial advisory business. Teneo's financial advisory division currently employs nearly 600 people globally, providing services including business restructuring, corporate insolvency, and bankruptcy, among others. Teneo plans to open its first Australian office in Brisbane in the coming weeks. The company did not disclose the deal's value.
Yahoo
17-07-2025
- Business
- Yahoo
Teneo acquires PwC's Australia restructuring unit to expand financial advisory presence
(Reuters) -Teneo said on Thursday it has acquired the Australia business restructuring services unit of auditing firm PwC, as the management consultancy seeks to expand its financial advisory presence in the region. Under the deal, about 80 members of PwC's Australia business restructuring services team will join Teneo and will provide wide range of financial services in the country, including expertise in local and international restructuring and insolvency situations. Stephen Longley, who has led PwC's Australia business restructuring services team for the last four years, will become head of financial advisory Australia at Teneo, according to a company statement. "We see significant opportunity both in the Australian market and the wider Asia-Pacific region for a critical events advisor of scale, and this acquisition gives us an outstanding platform for growth," said Daniel Butters, CEO of Teneo's financial advisory business. Teneo's financial advisory division currently employs nearly 600 people globally, providing services including business restructuring, corporate insolvency, and bankruptcy, among others. Teneo plans to open its first Australian office in Brisbane in the coming weeks. The company did not disclose the deal's value.
Bloomberg
17-07-2025
- Business
- Bloomberg
Teneo Buys PwC Australia Restructuring Unit, Explores Stake Sale
Communications and consulting firm Teneo has agreed to buy PricewaterhouseCoopers ' business restructuring services unit in Australia. The deal adds about 80 people to Teneo and will bolster its financial advisory operations, according to a statement. Terms of the deal weren't disclosed.
