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EY Germany is planning to cut workloads as it overhauls its auditing practices following the failure to spot that half of Wirecard’s revenues and billions of corporate cash did not exist. The German arm of the Big Four accounting firm on Thursday promised staff “an improvement of working conditions” after receiving the recommendations of an
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Miner and commodity trader Glencore has suffered a rebuke from some shareholders over its climate transition plan, highlighting the increased scrutiny of corporate proposals to tackle global warming. Almost 24 per cent of votes cast at the group’s annual general meeting in Switzerland on Thursday were opposed to a resolution seeking approval for the company’s climate
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Hello, this is Kenji from Hong Kong. I have been involved in the #techAsia newsletter since its inception in April 2019, and am excited to continue my engagement in its latest incarnation. Despite the changes in the format, the mission of the newsletter remains the same: to deliver the latest and deepest stories from the
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J Sainsbury warned underlying profit would be lower than expected this year amid “significant external pressures and uncertainties” including cost inflation and a squeeze on household incomes. The UK’s second-largest supermarket on Thursday forecast underlying profit of between £630mn and £690mn. Analysts’ consensus forecast, as compiled by the group, had been for £703mn. Chief executive
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Good morning. Wall Street rallied yesterday, then faded. Sentiment is poor, and surprisingly solid results from Facebook (still boycotting “Meta” around here) after the bell seem unlikely to change that. But readers have suggested plenty of good reasons to be cheerful: it’s spring, Trump is out of the White House, and Russia is losing. Keep
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It might seem like business-as-usual in the post-pandemic western art world, but some of the alternative models initiated during the lockdowns are finding their footing. One is the Fair Art Fair (FAF), an app launched last September by the London artist-gallerist Stacie McCormick, with some Arts Council backing. Despite its name, the platform operates more
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The writer is the founder and managing director of capital markets think-tank New Financial In the latest round of self-flagellation over the state of the UK stock market and the City of London, it is worth remembering the words of American writer HL Mencken that “for every complex problem there is an answer that is
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One thing to start: The UK Serious Fraud Office deployed investigators to sites connected with Sanjeev Gupta’s GFG Alliance on Wednesday to demand documents as it steps up its probe into the industrialist’s empire. A Tiger cub risks losing his stripes In May 2020, a scathing report from short seller Muddy Waters alleged Chinese online
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Your browser does not support playing this file but you can still download the MP3 file to play locally. Russia raised the spectre of nuclear war this week as it struggles to make headway in Ukraine. How seriously should this threat be taken and can Vladimir Putin rely on his friendship with China’s Xi Jinping?
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