22 February 2019

Buffett-backed BYD settles US wage dispute, Reuters says

China’s BYD Co. Ltd. (1211.HK) (002594.SZ) said it has agreed to pay a fine to settle a California case over wages, Reuters reported Wednesday. In October, the Warren Buffett-backed carmaker was accused of failing to pay five Chinese workers temporarily working in the United States the minimum wage of U$8 per hour. It rejected the allegation, saying in a statement Wednesday that its workers are paid the equivalent of US$12 to US$16 per hour in Chinese currency, but it said it had agreed to pay a US$1,900 fine to resolve the matter, the report said.

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