Latest news with #businessconcerns
CBC
01-08-2025
- Business
- CBC
Saint John encampment green zones aim to break barriers for city's homeless
Saint John's green zone pilot project, run by the 12 Neighbours mini-home group, aims to provide 'low barrier' transitional housing for 28 people. Some nearby businesses have concerns.
Yahoo
18-07-2025
- Business
- Yahoo
Wells Fargo exit ban revives fears about doing business in China
By Antoni Slodkowski, Casey Hall and Scott Murdoch BEIJING/SHANGHAI/SYDNEY (Reuters) -Fears that employees of foreign firms risk entanglement with Chinese authorities have resurfaced after news that an employee of U.S. bank Wells Fargo has been banned from leaving the country. Business groups, diplomats and overseas executives say the incident is part of a long-term trend that had appeared to ease off as Beijing pushed to promote its appeal to foreign commerce to bolster its slowing economy. "Such stories can raise concerns of foreign businesses regarding travel to China," said Jens Eskelund, president of the European Union Chamber of Commerce in China. "At a time when China is proactively trying to attract foreign investment it sends something of a mixed signal." Wells Fargo has suspended all travel to China after the incident, a person familiar with the matter told Reuters. Shanghai-born Chenyue Mao, who spearheads the bank's international factoring business, was subjected to the ban after she entered China in recent weeks, the Wall Street Journal reported. She is a U.S. citizen, a source told Reuters. An emailed request for comment sent to Mao received an automated response saying she was "travelling international on business". China's foreign ministry spokesperson Lin Jian told a press briefing on Friday that he was not aware of the Wells Fargo matter, adding that China was committed to providing a welcoming environment for foreign companies to do business. The U.S. embassy in Beijing said it could not comment on the specifics of the case due to privacy and other reasons. "We have raised our concern with Chinese authorities about the impact arbitrary exit bans on U.S. citizens have on our bilateral relations and urged them to immediately allow impacted U.S. citizens to return home," a spokesperson for the embassy added. The United States does not provide an official figure for how many citizens are detained abroad, but The Dui Hua Foundation, a nonprofit that advocates for the release of political prisoners in China, estimates there are more than 200 Americans in China alone who are wrongfully detained or facing coercive measures, such as exit bans. The U.S. State Department updated its travel advisory for mainland China in November 2024 saying visitors should "exercise increased caution" due to "arbitrary enforcement of local laws, including in relation to exit bans." ROUTINELY USED In a survey conducted by the EU Chamber of Commerce in China of its members last year, 9% of respondents reported challenges attracting foreign nationals to work in China due to concerns related to personal safety and/or civil and criminal liability such as company raids, arbitrary arrests or exit bans. Of the 128 respondents, 4% said business travel from China to their company's headquarters had been negatively impacted due to employees being unable to leave China due to exit bans. There is no official data in China on the number of individuals subject to exit bans. But non-profit organisation Safeguard Defenders estimates bans have shot up over the past decade and that "tens of thousands" of people - the vast majority Chinese nationals - face such bans at any one time, citing court data on civil and criminal cases. A 2022 academic study found 128 cases of foreigners faced exit bans between 1995 and 2019, including 29 Americans and 44 Canadians. Around a third of the bans were business related. James Zimmerman, a lawyer based in Beijing and former chairman of the American Chamber of Commerce in China, said Chinese authorities routinely use exit bans to prevent witnesses or suspects viewed as flight risks from exiting mainland China. "Most of the time, there is a legitimate legal basis for the exit ban, while there are indeed instances of misuse of the process by the government authorities, including for political reasons," Zimmerman said While there are procedures in place to have the ban lifted, a lack of transparency and absence of a workable bail system make it a time-consuming and challenging process, he added. Other incidents of bans in recent years have embroiled executives from Japanese investment bank Nomura Holdings, U.S. risk advisory firm Kroll and Swiss wealth manager UBS. Yet some professional advisors say travel to China has become safer than several years ago, said Benjamin Qiu, Co-Chair, Asian Affairs Committee at the New York City Bar Association. Unless your company has been specifically targeted by the state or a state-owned entity, risks are low, said Qui, adding that ethnic Chinese travellers do face heightened risk. Other executives are hoping the Wells Fargo incident does not presage a wider crackdown. "We do so much business in China and travel there so much, we can't afford not to. I would hope this is just a one-off," said a capital markets banker at a Western bank in Hong Kong, declining to be named as the person was not authorised to talk to the media. Sign in to access your portfolio
Reuters
18-07-2025
- Business
- Reuters
Wells Fargo exit ban revives fears about doing business in China
BEIJING/SHANGHAI/SYDNEY, July 18 (Reuters) - Fears that employees of foreign firms risk entanglement with Chinese authorities have resurfaced after news that an employee of U.S. bank Wells Fargo (WFC.N), opens new tab has been banned from leaving the country. Business groups, diplomats and overseas executives say the incident is part of a long-term trend that had appeared to ease off as Beijing pushed to promote its appeal to foreign commerce to bolster its slowing economy. "Such stories can raise concerns of foreign businesses regarding travel to China," said Jens Eskelund, president of the European Union Chamber of Commerce in China. "At a time when China is proactively trying to attract foreign investment it sends something of a mixed signal." Wells Fargo has suspended all travel to China after the incident, a person familiar with the matter told Reuters. Shanghai-born Chenyue Mao, who spearheads the bank's international factoring business, was subjected to the ban after she entered China in recent weeks, the Wall Street Journal reported. She is a U.S. citizen, a source told Reuters. An emailed request for comment sent to Mao received an automated response saying she was "travelling international on business". China's foreign ministry spokesperson Lin Jian told a press briefing on Friday that he was not aware of the Wells Fargo matter, adding that China was committed to providing a welcoming environment for foreign companies to do business. The U.S. embassy in Beijing said it could not comment on the specifics of the case due to privacy and other reasons. "We have raised our concern with Chinese authorities about the impact arbitrary exit bans on U.S. citizens have on our bilateral relations and urged them to immediately allow impacted U.S. citizens to return home," a spokesperson for the embassy added. The United States does not provide an official figure for how many citizens are detained abroad, but The Dui Hua Foundation, a nonprofit that advocates for the release of political prisoners in China, estimates there are more than 200 Americans in China alone who are wrongfully detained or facing coercive measures, such as exit bans. The U.S. State Department updated its travel advisory for mainland China in November 2024 saying visitors should "exercise increased caution" due to "arbitrary enforcement of local laws, including in relation to exit bans." In a survey conducted by the EU Chamber of Commerce in China of its members last year, 9% of respondents reported challenges attracting foreign nationals to work in China due to concerns related to personal safety and/or civil and criminal liability such as company raids, arbitrary arrests or exit bans. Of the 128 respondents, 4% said business travel from China to their company's headquarters had been negatively impacted due to employees being unable to leave China due to exit bans. There is no official data in China on the number of individuals subject to exit bans. But non-profit organisation Safeguard Defenders estimates bans have shot up over the past decade and that "tens of thousands" of people - the vast majority Chinese nationals - face such bans at any one time, citing court data on civil and criminal cases. A 2022 academic study found 128 cases of foreigners faced exit bans between 1995 and 2019, including 29 Americans and 44 Canadians. Around a third of the bans were business related. James Zimmerman, a lawyer based in Beijing and former chairman of the American Chamber of Commerce in China, said Chinese authorities routinely use exit bans to prevent witnesses or suspects viewed as flight risks from exiting mainland China. "Most of the time, there is a legitimate legal basis for the exit ban, while there are indeed instances of misuse of the process by the government authorities, including for political reasons," Zimmerman said While there are procedures in place to have the ban lifted, a lack of transparency and absence of a workable bail system make it a time-consuming and challenging process, he added. Other incidents of bans in recent years have embroiled executives from Japanese investment bank Nomura Holdings (8604.T), opens new tab, U.S. risk advisory firm Kroll and Swiss wealth manager UBS (UBSG.S), opens new tab. Yet some professional advisors say travel to China has become safer than several years ago, said Benjamin Qiu, Co-Chair, Asian Affairs Committee at the New York City Bar Association. Unless your company has been specifically targeted by the state or a state-owned entity, risks are low, said Qui, adding that ethnic Chinese travellers do face heightened risk. Other executives are hoping the Wells Fargo incident does not presage a wider crackdown. "We do so much business in China and travel there so much, we can't afford not to. I would hope this is just a one-off," said a capital markets banker at a Western bank in Hong Kong, declining to be named as the person was not authorised to talk to the media.
Japan Times
17-07-2025
- Business
- Japan Times
Japanese firms in China wary after Astellas employee spy conviction
Concerns are growing among Japanese firms operating in China after a Chinese court on Wednesday found an employee of major Japanese drugmaker Astellas Pharma guilty of spying. The district court sentenced the male Japanese employee of Astellas to three years and six months in prison for espionage. Details have not been disclosed on what acts led to the guilty ruling. "We don't know what actions (by the Astellas employee) were considered a problem" by Chinese authorities, a senior official of a Japanese manufacturer stationed in Beijing said. "Unless we know what the acts were, we can't operate our business in China with peace of mind." The Astellas worker was detained in the Chinese capital in 2023, just before he was set to return to Japan following the end of his assignment in China. This triggered moves among Japanese companies to avoid sending their employees to the country. After the incident, a midsize manufacturer started handing out smartphones containing minimal content to its employees making business trips to China. This practice is still in place, an official of the company said. The number of corporate employees in Japan seeking posts in China has decreased. "I've been unable to return home because no one wants to take my place," an employee of a Japanese trading company in China said. On Wednesday, the third China International Supply Chain Expo kicked off in Beijing, bringing together representatives from governments around the world and multinational firms. An official of a U.S. manufacturer said that the number of corporate employees asking for assignment in China is decreasing also in the United States.
CTV News
02-07-2025
- Business
- CTV News
Following Marda Loop lawsuit, Stephen Avenue business owners express concern over city redevelopment project
Artist rendering of a proposed revitalization of Stephen Avenue in downtown Calgary. Local business owners are concerned about potential loss of business during construction. Tensions are rising on Calgary's historic Stephen Avenue, where several business owners are concerned over their chances of surviving through a major redevelopment project set to begin later this month. The community's angst comes in the wake of a $75 million class-action lawsuit recently launched by Marda Loop businesses over the fallout from a mismanaged two-year construction project. According to the city, work on Stephen Avenue is scheduled to begin on the 1 Street S.E. block of the street on July 14, just one day after the Calgary Stampede, and continue westward to Mewata Armoury over the next 18 months. Stephen Avenue revitalization project The revitalization project is scheduled to kick off the day after the end of the Calgary Stampede and continue for 18 months. (Photo: City of Calgary) 'Ghost town' 'The damage to the businesses will be irreparable and over time, Stephen Avenue will become a ghost town,' said Stephen Deere, owner of Modern Steak. 'It could be another 17th Ave. or Marda Loop (scenario) -- maybe times ten,' 'We're here to ask the city to stop the redevelopment for the time being until we can get a plan that makes sense for all of us,' Deere added. 'The city has not engaged directly with the business community and has upped timelines and increased the urgency of this project without engaging any of the stakeholders.' The focus of work in 2025 will be to replace underground utilities, including water, storm and power, along with new soil cells to support healthy tree growth and surface upgrades along the centre of Stephen Avenue. Design plans also feature three-metre-wide pedestrian paths which will be maintained on the north or south sides of the street during the construction, along with the creation of mid-block crossings. Stephen Avenue reviitalization proect Artist's rendering of a proposed revitalization of Stephen Avenue in downtown Calgary, scheduled to start in mid-July. (Photo: City of Calgary) Staged approach Deere isn't opposed to the renovations but says the city hasn't considered other solutions including taking a staged approach that won't have such a significant impact on business owners. A pitch to start work at the west end near Mewata Armoury, where it's likely to have less impact also hasn't been considered according to Deere. 'Nothing has come back from the city on those, but we have made recommendations,' he said. 'We do want this to move forward. We just don't want it to move forward in the manner that we have.' Deere adds that if several businesses close down, it will also impact hundreds of thousands of Calgarians in the process. 'That's when crime moves in, and the biggest issue that's going to happen is there's going to be no business tax base available because all these spaces will be vacant and it'll be shifted on to residential.' 'So as much as this feels like a commercial or business issue,' he added, 'this is really a Calgarian issue.' Project design, safety and timing under scrutiny Business owners raised concerns not just about timelines, but also the project's design and procurement decisions. Among the issues that concern local business owners are the alleged importation of granite from Vietnam instead of using local products. Other concerns include the removal of trees, the lack of a firm budget beyond Phase 1, lack of easy and affordable parking for visitors and downtown workers and a failure to address ongoing social and safety issues in the area. Leslie Echino, owner of Annabelle's Kitchen, says her previous experience in Marda Loop is a cautionary tale. 'I endured over two years of construction in Marda Loop. I think out of over 170 businesses, 40 have closed, citing construction,' she said. 'It hurts my heart, it hurts my business, it hurts our staff, it hurts the entire community.' Now she's bracing for the same uncertainty on Stephen Avenue. 'Do you think I want to re-sign my lease right now? I've been 17 years on Stephen Avenue. I'm very hesitant to sign a lease because I don't know if I'll be here in three years.' 'We just want a proper plan,' Echino said. 'Fifteen months plus of work on this block? I really don't know if it could be three years.' Suzanne Baden, the managing general partner for Klein/ Harris along Stephen Avenue also weighed in, calling businesses in the area survivors – of the 2013 flood, COVID-era shutdowns, and now Trump's tariffs – but the timing of launching major construction work right after Stampede could be devastating for the community. 'For the city to think that on July 14 our revenue stream is done down here, it's just the opposite,' Baden said. 'This is our peak tourist season, and we need to capitalize on it.' 'We want to work with the city, but this has been something that's gone from a pie in the sky notion to shovels in the ground in a matter of months for us, and at this point, we're not getting the cooperation we feel (we need and deserve) from the city.' Business owners are also concerned that with the Olympic Plaza redevelopment going on, the Arts Commons transformation and the Glenbow Museum project all occurring at the same time on Stephen Avenue, the timing for a major street revitalization project couldn't be worse for them. Councillors weigh in Ward 1 Coun. Sonya Sharp said she's heard enough to ask for an immediate pause to summer construction on Stephen Avenue 'When the city is a disruptor—which is what I would call this—it doesn't seem like there is a proper plan in place,' she said. 'It is not acceptable. When you hear that businesses say their next step is legal action, that means they've come to their wit's end.' 'I'm advocating for a pause on this project for our summer months—absolutely,' she added. 'This is the time for our city to shine, let's not be disruptors for them.' Sonya, Sharp, councillor, calgary Sonya Sharp, the new councillor for Ward 1 Sharp also flagged safety concerns with the proposed materials. 'We live in a winter city. Things like granite and marble are not conducive to our weather, they're slippery, it's dangerous.' Ward 7 Coun. Terry Wong, who represents Stephen Avenue, said engagement has been ongoing but admitted more clarity is needed. 'We've had conversations with the merchants, we've put questions back to administration asking: is there a way to delay, alter this schedule, take a different construction approach?' Wong said. 'I definitely don't want to hurt businesses.' Terry Wong, Calgary, Ward 7 Terry Wong was elected as Ward 7 councillor in the 2021 Calgary election. Wong added that the construction timeline is complicated by other nearby developments. 'Behind you, we have two other projects going on right now,' he said, referring to the Glenbow Museum and Olympic Plaza transformations. 'We need to take a look at all of this from a portfolio perspective.' Wong said consultation and communication on issues of construction are instrumental for businesses and the city working together. 'The City of Calgary and our development industry and our merchants and our community and our residents have to go through these projects as a journey together,' Wong said. 'We need to collaborate… so that we know every step of the way who's doing what, why is it being done, and what the implications are.' CTV Calgary has requested a response from the City of Calgary, but has not yet heard back.
