Earlier this month, China took a big step to expand the use of renminbi for cross-border payments and trade settlement. The move makes it easier for international corporations to pay more of their Chinese suppliers in RMB and allows those with subsidiaries engaged in manufacturing and exporting in China to include RMB as a strategic currency in their treasury portfolios, says Sam Xu, executive director at J.P. Morgan Treasury Services.
Businesses want Congress to repeal the Cadillac tax, but the price tag may be too steep.
Keeping up with the latest digital innovations has replaced economic conditions and regulatory changes as the biggest concern for global executives this year.
Wage and hour settlements accounted for $1.2B of the total.
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Follow these 4 steps to help protect profit and avoid currency related losses while doing business across borders.
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