
Wells Fargo Suspends China Travel After Banker Was Blocked From Leaving
Chenyue Mao, an Atlanta-based managing director who was born in Shanghai, was banned from exiting China after entering the country in recent weeks, according to a person with knowledge of the situation. That led the San Francisco-based bank to restrict other Wells Fargo employees from visiting China, said the person, who asked not to be identified discussing information that isn't public.

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19 minutes ago
- Yahoo
More results needed from PM's China trip: Liberals
Voters should have expected more tangible outcomes from the prime minister's trip to China, the opposition says. But a senior government minister said the six-day visit by Anthony Albanese had helped to stabilise the relationship with Australia's largest trading partner. The prime minister landed in Australia on Friday after visiting Shanghai, Beijing and Chengdu during the official visit, which included a one-on-one meeting with Chinese President Xi Jinping. While Mr Albanese said the visit would strengthen ties between the two countries, deputy opposition leader Ted O'Brien said the trip should have been complemented with visits to nearby Asian allies. "When you have six days in a country, I think it is fair for the Australian people to expect more from it," he told Sky News on Sunday. "By spending six days there, not going to Japan, not going to South Korea, I think it has accentuated the problem we have with an imbalanced foreign policy." But Attorney-General Michelle Rowland said criticism of the prime ministerial visit was "extraordinary", given work was needed to be done to repair ties with China after trade sanctions on Australian exports were lifted. "China is our single biggest trading partner. Our resources sector relies on that relationship," she told Sky News. "We will always act in the national interest, and often we will disagree, but this is important from the perspective of our trade and of stabilising that relationship, which, quite frankly, had broken down." China imposed an estimated $20 billion worth of trade impediments against Australian products such as wine, lobster and beef following a breakdown in ties between the two countries at the start of the COVID pandemic. Access to the Chinese market has recently opened up to large numbers of exports. "This is about creating jobs and extra trade opportunities for Australia, and it's important that we maintain this vital relationship," Ms Rowland said. Mr O'Brien said while he was not criticising the prime minister for going overseas on the foreign visit, the outcomes did not meet expectations. "We are supportive of economic diplomacy. It's absolutely key, but Australia deserves nothing less than tangible outcomes, especially when you spend a week in country," he said.
Yahoo
26 minutes ago
- Yahoo
Smart Reads of the Week: Dividend Hike Watch, CPF Stock Picks, and Growth Opportunities
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Yahoo
an hour ago
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Trump administration imposes limits on Mexican flights and threatens Delta alliance in trade dispute
The Trump administration imposed new restrictions Saturday on flights from Mexico and threatened to end a longstanding partnership between Delta Air Lines and Aeromexico in response to limits the Mexican government placed on passenger and cargo flights into Mexico City several years ago. Transportation Secretary Sean Duffy said Mexico's actions to force airlines to move out of the main Benito Juarez International Airport to the newer Felipe Angeles International Airport more than 30 miles away violated a trade agreement between the two countries and gave domestic airlines an unfair advantage. Mexico is the top foreign destination for Americans with more than 40 million passengers flying there last year. "Joe Biden and Pete Buttigieg deliberately allowed Mexico to break our bilateral aviation agreement,' Duffy said of the previous administration. 'That ends today. Let these actions serve as a warning to any country who thinks it can take advantage of the U.S., our carriers, and our market. America First means fighting for the fundamental principle of fairness.' All Mexican passenger, cargo and charter airlines will now be required to submit their schedules to the Transportation Department and seek government approval of their flights until Duffy is satisfied with the way Mexico is treating U.S. airlines. It's not immediately clear how Duffy's actions might affect the broader trade war with Mexico and negotiations over tariffs. A spokesperson for Mexico's President Claudia Sheinbaum didn't reply immediately to a request for a comment, and she didn't mention the restrictions at an event Saturday. Delta and Aeromexico have been fighting the Transportation Department's efforts to end their partnership that began in 2016 since early last year. The airlines have argued that it's not fair to punish them for the Mexican government's actions, and they said ending their agreement would jeopardize nearly two dozen routes and $800 million in benefits to both countries' economies that come from tourism spending and jobs. 'The U.S. Department of Transportation's tentative proposal to terminate its approval of the strategic and pro-competitive partnership between Delta and Aeromexico would cause significant harm to consumers traveling between the U.S. and Mexico, as well as U.S. jobs, communities, and transborder competition," Delta said in a statement. Aeromexico's press office said it was reviewing the order and intended to present a joint response with Delta in the coming days. But the order terminating approval of the agreement between the airlines wouldn't take effect until October, and the airlines are likely to continue fighting that decision. The airlines said in a previous filing fighting the order that it believes the loss of direct flights would prompt over 140,000 American tourists and nearly 90,000 Mexican tourists not to visit the other country and hurt the economies of both countries with the loss of their spending. ___ Associated Press writer Amaranta Marentes in Mexico City contributed to this report. Josh Funk, The Associated Press