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Good morning from the Financial Times. Today is Thursday, August 22nd.

And this is your F.T. News briefing.

China might put PWC in time out and a potential takeover of 7-Eleven's parent company is making everyone in Japan grab their popcorn and slurpees.

Plus the President of Mexico is trying to fire federal judges and now they're on strike.

I'm Mark Filipino and here's the news you need to start your day. PWC accountants in China might want to consider taking up a side hustle.

The firm expects that it'll be banned from doing a lot of business in the country

for six months and it could go into effect in just a few weeks. Beijing is mad because of the situation

with PWC's former client Evergrand.

The Chinese property developer defaulted on its debts in 2021.

Before it went bust, though, it inflated its revenues by almost 80 billion dollars.

And here's why PWC China is in trouble.

They didn't raise the alarm.

The ban would be Beijing's toughest ever action on a big four firm, plus there's talks of a large fine to follow.

Now it's not game over for PWC China, business should resume in March,

but as the country's biggest accounting firm will probably

see major changes in the Chinese audit landscape. Mexico's president only has a few weeks left in office, but before he leaves, he wants

to fire the country's top judges. So yesterday they packed up their bags and walked out of

their courtrooms. They're protesting Andres Manuel Lopez-Operdoors plans to overhaul the judiciary.

My colleague Christine Murray has been plans to overhaul the judiciary.

My colleague Christine Murray has been checking in on the strike.

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