World Bank China rigging scandal rattles investors

(Adds comment from Ashmore Group, Russia)

By Tom Arnold and Marc Jones

LONDON, Sept 17 (Reuters) – Some investors and campaigners expressed dismay on Friday at revelations that World Bank leaders pressured staff to boost China’s score in an influential report that ranks countries on how easy it is to do business there.

They also said the World Bank’s subsequent discontinuation of the “Doing Business” series of annual reports could make it harder for investors to assess where to put their money.

“The more I think about this, the worse it looks,” said Tim Ash at BlueBay Asset Management, adding that the reports published since 2003 had become important for banks and businesses around the world.

“Any quantitative model of country risk has built this into ratings. Money and investments are allocated on the back of this series.”

An investigation by law firm WilmerHale https://www.reuters.com/business/sustainable-business/world-bank-kills-business-climate-report-after-ethics-probe-cites-undue-pressure-2021-09-16, at the request of the

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Bad for business: World Bank China rigging scandal rattles investors

A participant stands near a logo of World Bank at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File Photo

LONDON, Sept 17 (Reuters) – Some investors and campaigners expressed dismay on Friday at revelations that World Bank leaders pressured staff to boost China’s score in an influential report that ranks countries on how easy it is to do business there.

They also said the World Bank’s subsequent discontinuation of the “Doing Business” series of annual reports could make it harder for investors to assess where to put their money.

“The more I think about this, the worse it looks,” said Tim Ash at BlueBay Asset Management, adding that the reports published since 2003 had become important for banks and businesses around the world.

“Any quantitative model of country risk has built this into ratings. Money and investments

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AI avatars bring deepfakes to the business world

This article was originally published on our sister site, Freethink.

A financial consulting firm has created AI avatars for its staff, which they can use to quickly create deepfakes of themselves for presentations, emails, and more.

The challenge: During the pandemic, remote work became the norm at many companies, and meetings that might have once taken place over lunch happened over the internet instead.

This transition was more difficult for some industries than others, and those that traditionally relied on face-time with clients to build relationships and secure deals may have struggled to find their footing.

“As opposed to sending an email and saying ‘Hey we’re still on for Friday,’ you can see me and hear my voice.”

—JARED REEDER

“[W]hile much has been written about how to collaborate remotely with coworkers … companies still are trying to figure out the best way to connect with clients over teleconferencing platforms,”

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Carleton’s $65-million business school steps onto world stage

The way Dana Brown sees it, the Nicol Building in the heart of Carleton University’s campus is a $65-million statement to the world: the school is open for business.

That makes sense, considering that Brown is the dean of Carleton’s Sprott School of Business and the Nicol Building is Sprott’s new home. But Brown views the new structure, which officially opened to students and staff this week, as an invitation for the wider business world to finally take notice of an institution that she says has flown under the radar.

“We’re almost like a diamond in the rough,” says Brown, who joined Carleton’s faculty two years ago after a 20-year career in business education that’s taken her to more than 60 countries. 

“We need to be discovered a little bit more. This is a darned good business school. I want to see it really thrive and the world to know

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