Receive Breaking News updates as they occur
By Ben Blanchard and Roberta Rampton BEIJING/WASHINGTON (Reuters) - The White House said on Monday it had sought to reassure China after President-elect Donald Trump's phone call with Taiwan's leader last week, which the Obama administration warned could undermine progress in relations with Beijing. The statement from a spokesman for U.S. President Barack Obama highlighted concerns about the potential fallout from Trump's unusual call with Taiwan President Tsai Ing-wen on Friday, which prompted a diplomatic protest from Beijing on Saturday.
A US accounting watchdog hit Deloitte's Brazil division with a record $8 million fine for issuing false audits of a US-traded Brazilian airline and then doctoring papers to thwart an investigation, the agency said Monday. Brazil-based Deloitte Touche Tohmatsu Auditores Independentes "knowingly issued materially false" audit reports for Brazilian carrier Gol Intelligent Airlines in 2010, the Public Company Accounting Oversight Board said in a statement. Numerous Deloitte Brazil personnel then sought to obstruct a PCAOB inspection in 2012, directing junior staff to alter documents and taking other steps to conceal the paper trail "with the knowledge and participation of senior firm leaders," the PCAOB said.