News Snapshot:
Regulators in US to vet Alibaba, other Chinese firms’ audits: Sources US regulators have selected e-commerce giant Alibaba Group Holding Ltd and other US-listed Chinese companies for audit inspections starting next month, three sources familiar with the matter said. The move follows Friday’s landmark audit deal between Beijing and Washington allowing US regulators to vet accounting firms in mainland China and Hong Kong, potentially ending a long-running dispute that threatened to boot more than 200 Chinese companies from US stock exchanges. Alibaba has been notified that it is among the first batch of Chinese companies whose audits will be inspected...
