No, not that Carlyle. And not that Buffett. Welcome to the alternate universe of Chinese finance.
A Chinese investment firm going by the name of Carlyle has accused the investment adviser to a fund known as the Buffett No. 1 Plan of committing fraud. The adviser of the Chinese Buffett fund has in turn accused the Chinese Carlyle of money laundering. Both deny the allegations. Read more >>
It has taken almost a week, but one of China’s biggest scrap metal dealers is finally ready for a, er, scrap.
China Metal Recycling, a HK$11bn company, was targeted by a Californian short-seller and research company on Monday. Glaucus Research Group, a new name on the beat-em-up circuit, issued a report on Monday accusing the the Hong Kong-listed group of exaggerating the size of its business. Read more >>