Home » Archives by category » Top Stories

KPMG’s audit work unacceptable, says watchdog

KPMG’s audit work unacceptable, says watchdog

Image copyright Reuters The auditing work of one of the world’s “Big Four” accounting firms has been sharply criticised by the industry’s watchdog. KPMG audits had shown an “unacceptable deterioration” and will be subject to closer supervision, the Financial Reporting Council said. The FRC added all the Big Four – which also include PwC, EY […]

Stock markets fall amid trade fears

Stock markets fall amid trade fears

Image copyright AFP Stock markets have fallen amid fears of a further deterioration in US-Chinese trade relations. Tensions in Germany’s coalition government over migration policy added to investors’ uncertainty. Wall Street’s Dow Jones and S&P 500 were 0.4% and 0.2% down, although shares pulled back from steeper losses. Earlier, Frankfurt’s Dax fell 1.4%, while Paris’ […]

Virgin Money bought by CYBG for £1.7bn

Virgin Money bought by CYBG for £1.7bn

Image copyright Reuters The owner of Clydesdale Bank and Yorkshire Bank, CYBG, has agreed to buy Virgin Money for £1.7bn. Under the deal, all the group’s retail customers will be moved to Virgin Money over the next three years. It will be the UK’s sixth-largest bank, with about six million customers, but 1,500 jobs are […]

Audi chief executive Rupert Stadler arrested

Audi chief executive Rupert Stadler arrested

Image copyright EPA German carmaker Audi’s chief executive, Rupert Stadler, has been arrested, parent company Volkswagen has said. A spokesman for VW said: “We confirm that Mr Stadler was arrested this morning. The hearing to determine whether he will be remanded is ongoing.” Audi has been caught up in the diesel emissions scandal that has […]

Energy firms ‘forcibly’ installing more prepayment meters

Energy firms ‘forcibly’ installing more prepayment meters

Gas and electricity suppliers are forcing too many customers to use prepaid meters, the regulator has said. In a report, Ofgem said the number of gas meter devices installed using a court warrant rose by 6.9% last year. The regulator said meters should be “an absolute last resort” for recovering debt, and suppliers should be […]

Debit card payments more popular than cash

Debit card payments more popular than cash

Image copyright Getty Images Debit card payments have overtaken cash use for the first time, new figures show, as contactless technology takes a firm hold on day-to-day spending. A total of 13.2 billion debit card payments were made last year, a rise of 14% on the previous year, according to banking trade body UK Finance. […]

UK economy faces weakest growth since 2009, employers warn

UK economy faces weakest growth since 2009, employers warn

Image copyright Reuters The British Chambers of Commerce has cut its UK growth forecast for 2018, warning the economy faces its weakest year since the financial crisis. The employers’ group forecast 2018 GDP growth of 1.3%, down from a previous forecast of 1.4%, and cut its forecast for 2019 from 1.5% to 1.4%. The BCC […]

Tesco says growth ‘on track’ as sales rise again

Tesco says growth ‘on track’ as sales rise again

Image copyright Getty Images Tesco says its growth plans are on track after it reported a 10th consecutive quarter of rising sales. UK like-for-like sales, which strip out the impact of new stores, rose 2.1% in the 13 weeks to 26 May. The supermarket giant said sales had recovered after being affected by bad weather […]

China vows fast response to US tariffs

China vows fast response to US tariffs

Image copyright Reuters China will respond quickly to protect itself if the US hurts its interests with fresh trade tariffs, a foreign ministry spokesman has said. The warning from Beijing comes as the US prepares to levy new tariffs on $50bn worth of Chinese imports. On Thursday, US officials met at the White House to […]

Universal Credit ‘could cost more than current benefits system’

Universal Credit ‘could cost more than current benefits system’

Media captionUniversal Credit has proved controversial almost from the beginning The government’s flagship benefits system has been too slow to roll out, causes hardship, and is not delivering value for money, a watchdog has said. The National Audit Office said the £1.9bn Universal Credit system could end up costing more to administer than the benefits […]

Page 1 of 228123Next ›Last »