Big Four carnage as KPMG swings the jobs axe on both sides of the Pond Prof Services On the back of KPMG taking the shears to its partners’ headcount in the UK, around 140 audit partners across the Atlantic are now set to lose their jobs. The Big Four firm is set to cut about 10 per cent of its 1,400 US audit partners to reduce its bloated headcount. The move comes [...]
JP Morgan and Goldman Sachs to lead Wall Street profit haul on back of Iran war Banking Top Wall Street banks are tipped to reveal huge profit growth next week amid firm investment banking activity and soaring trading volumes on the back of volatility in the Middle East. Goldman Sachs will issue the starting gun on US banks earnings season on Monday, where boss David Solomon has already teased a boom in [...]
Trump’s tariff decisions send shockwaves through the markets Markets Global assets and markets have once more found themselves reeling from the aftershocks of Trump’s tariffs decision, after his weekend announcement sent investors scrambling. The US president announced a 15 per cent blanket tariff on Saturday in rebuttal to the Supreme Court striking down his signature economic policy. Bitcoin suffered a sharp selloff on Monday [...]
Trump declares ‘America is back!’ as US markets touch record highs January 28, 2026 Renewed AI-hype helped the S&P 500 break through the 7,000 mark for the first time ever on Wednesday, while the dollar clawed back some ground after a bruising few weeks. Equities soon pared their gains, falling below the 7,000 benchmark a few hours after the opening bell, and the S&P 500 had swung back into [...]
Inflation remains a headache on both sides of the Atlantic January 22, 2026 Donald Trump made many claims in his Davos speech yesterday and there aren’t enough pages in this newspaper to do justice to them all, but his assertion that “inflation has been defeated” is worth considering. With midterm elections coming up Trump knows the cost of living is a real concern, just as it is here, [...]
US tax consultancy faces $12bn threat, but AI could deliver $19bn in gains January 20, 2026 New research suggests AI could drive a $7bn (£5.2bn) net increase in the US tax consulting industry if firms shift focus from routine compliance to high-value advisory. The report from Source Global Research revealed that despite the potential threat to revenue, over half of all US tax services are expected to be significantly powered by [...]
World Bank: Global economy ‘more resilient than expected’ January 14, 2026 The global economy has been “markedly more resilient than expected” against a hostile backdrop of geopolitical and trade uncertainty, according to the World Bank which has upgraded its growth forecast for 2026. In its biannual assessment of the international economic outlook, the world’s preeminent financial body said that the “limited” pass-through of tariffs onto prices [...]
Wellcome Trust bolsters cash pile as stock market jitters grow January 13, 2026 Britain’s largest charity has built up a war chest of over £3.7bn in cash in a bid to safeguard its vast endowments from any impending financial correction and pounce on cut-price stock market opportunities a downturn might produce. The Wellcome Trust, a medical charity that manages nearly £40bn, revealed in its annual report that it [...]
Central banks throw weight behind Fed after Trump assault January 13, 2026 Some of the world’s most prominent central banks have issued a full-throated support of the Federal Reserve and its chair Jay Powell, after Donald Trump’s campaign against its independence escalated with a Department of Justice legal action. In an unusual joint intervention, 11 central banking chiefs declared they stood in “full solidarity” with the Fed’s [...]
Trump’s reckless assault on central bank independence January 13, 2026 Donald Trump once said he values loyalty “above everything else…more than brains, more than drive and more than energy.” If you’re wondering how he responds to perceived disloyalty, he’s also previously said “I love getting even with people.” With these two statements in mind, the Trump administration’s dramatic escalation of its war against the Chairman [...]