Reported 1 day ago
A Republican lawmaker has urged JPMorgan Chase & Co and Bank of America to stop their involvement in the upcoming initial public offering of China's CATL, a major electric vehicle battery manufacturer, due to concerns over the company's ties to the Chinese military and alleged forced labor practices. John Moolenaar, who chairs the House Select Committee on China, expressed that moving forward with the IPO could implicate the banks in serious ethical violations. The IPO is expected to raise at least $5 billion in Hong Kong.
Source: YAHOO