Trade

Scott London, the KPMG auditor accused of insider trading, said he was caught up in a federal investigation after he leaked clients' information “in an effort to help out someone whose business was struggling.” London told The Times that he provided the information on Herbalife and Skechers for a number of years, and that he never supplied any documents. He apologized for the leaks that ended a nearly 30-year career at the auditing giant. Full coverage: KPMG auditor accused of insider trading “I gave him my thoughts indicating whether the stock was a good buy or not,” London said.

Trading in shares of Skechers USA Inc. has resumed after being halted earlier Tuesday morning following KPMG's resignation as the footwear company's auditor. KPMG, which fired a senior partner in its Los Angeles office amid allegations of insider trading, also stepped down as auditor of Herbalife, a Los Angeles nutritional supplement company. The resignations from Herbalife and Manhattan Beach-based Skechers occurred Monday. Herbalife's shares were halted at opening. Soon after being reopened to trading, Skechers' stock was up 2%, or 43 cents, to $21.94 a share.

BEIJING - Present your business card with two hands. Go ahead and slurp your soup. Give gifts to clients, but by all means avoid clocks and knives. These are among the cultural hints and etiquette tips that California's new China Trade and Investment Office offered to dozens of political and business delegates traveling here with Gov. Jerry Brown this week. The group arrived Monday, ahead of Brown, who was celebrating his 75th birthday. The trade office will open officially later this week, when Brown and his entourage travel to Shanghai for the official ribbon cutting.

Herbalife maintained that its financial statements are sound and reliable amid news that its auditor is in the middle of an insider-trading investigation. Scott London, 50, a senior partner with KPMG, was ousted by his company after it learned the Department of Justice was investigating him for providing privileged non-public information to a third party who used it to make stock trades. “Herbalife's Audit Committee and management continue to believe that the company's financial statements covering the referenced periods fairly present, in all material respects, the financial condition and results of operations of the company,” the weight loss and nutrition company said.

KPMG, one of the country's biggest auditing firms, has fired a senior partner in its Los Angeles office for allegedly engaging in an insider-trading scheme. The partner passed confidential client information to someone who then traded stocks in several West Coast companies, KPMG said in a statement posted on its website. The partner, whom the firm did not identify, was in charge of KPMG's audit practice in the L.A. office. KPMG said it notified two of its clients it would have to withdraw audits performed for the companies, though it had no reason to believe the reports contained any financial misstatements.

BEIJING -- Gov. Jerry Brown finally arrived in China Tuesday night, telling dozens of Californians that his search for Chinese investment in California would not be deterred by tensions between Beijing and Washington. "I know there are a lot of politics with everyone in Washington," Brown told about 80 delegates at the China Club, a downtown restaurant that served as a villa for a Qing Dynasty prince in the 16th century. "But we're from California and we're not interested in politics.

Pluses When the Washington Capitals took the lead in the Southeast Division on Thursday and became the No. 3-ranked team in the East, it was the first time they held a playoff position this season. The Carolina Hurricanes and Winnipeg Jets have faded and the Capitals have taken advantage by winning seven of their last 10 games. Pittsburgh Penguins forward Tanner Glass was generous to give up his number, 10, to new teammate Brenden Morrow. Glass, who switched to 15, followed that with an even classier move: He said via Twitter any fans who had his jersey with his old number on the back could get it changed to 15 at the team store, "and I'll pay for the switch.

The dozens of California VIPs  who will barnstorm through China this week on a trade mission with Gov. Jerry Brown have arrived, and the first swag of the trip has been distributed. It's a pin. Our correspondent traveling with the delegation, Anthony York, tweeted a blurry photo of the piece shortly before the delegates turned in for the night after their many-hour flight. Brown did not travel with the rest of the crowd. He stayed back an extra day to celebrate his 75 th birthday in California.

"Four years from now, if I'm able to sit up and take nourishment, I would. " - Joe Torre, 72, jokingly, on whether he would be interested in an encore as Team USA manager when the World Baseball Classic returns in 2017. "What do you think you could get for me? Pujols? Maybe three years from now, or when he's retired?" - Toronto Blue Jays Manager John Gibbons, on his predecessor, John Farrell, who was traded to the Boston Red Sox for utility infielder Mike Aviles. "Maybe every win isn't important.

Aaron Harang will be a starting pitcher again, but not with the Dodgers. Harang was traded Saturday morning to the Colorado Rockies, who sent the Dodgers veteran catcher Ramon Hernandez in return. Hernandez is expected to back up A.J. Ellis. One of eight well-paid starting pitchers on the Dodger staff, Harang was sent to the bullpen against his wishes. Unlike Chris Capuano, who was met with the same fate, Harang had little experience pitching in relief. Harang, 34, is in the second year of a two-year, $12-million contract.