Government borrowing smashes expectations but debt-to-GDP highest since 1960s August 20, 2021 Government borrowing smashed official forecasts last month as the deficit narrowed by nearly half its levels registered at the height of the Covid crisis, official figures released today reveal. Data released by the Office for National Statistics shows in July of this year, public sector borrowing reached £10.4bn, the second highest figure for the month [...]
Government borrowing smashes expectations but debt-to-GDP highest since 1960s – CityAM : CityAM August 20, 2021 Government borrowing smashed official forecasts last month as the deficit narrowed by nearly half its levels registered at the height of the Covid crisis, official figures released today reveal. Data released by the Office for National Statistics shows in July of this year, public sector borrowing reached £10.4bn, the second highest figure for the month [...]
End of Euro 2020 dampens retail sales in July August 20, 2021 UK retail sales fell sharply over the last month driven by the end of the Euro 2020 football tournament in July stemming Brits’ spending on food and drink, according to official figures released today. Data from the Office for National Statistics shows retail sales volumes dropped 2.5 per cent between June and July of this [...]
UK inflation drops to two per cent in July August 18, 2021 Inflation in the UK dropped in July, driven by sharp falls in prices for clothing and footwear as retailers sought to stimulate demand by slashing prices amid the traditional summer sale season, according to official figures released today. The Office for National Statistics said prices rose two per cent over the last year, down from [...]
UK unemployment rate shrinks faster than expected to 4.7 per cent August 17, 2021 The UK jobless rate shrank faster than expected over the last quarter as employers hired workers rapidly to cope with soaring demand triggered by the lifting of Covid restrictions, according to official figures published today. Latest data from the Office for National Statistics shows the unemployment rate dipped 0.2 per cent over the last quarter [...]
Big Four refuse to back government plan to break dominance of audit market August 16, 2021 The UK’s Big Four accountancy firms have refused to back a government scheme that would see them share audit work with smaller firms. Last month, Deloitte, EY and PwC said they did not support the government’s proposal for “managed shared audits” of large listed companies. The Financial Times has reported that the other Big Four [...]
Big Four refuse to back government plan to break their dominance of audit market : CityAM August 16, 2021 The UK’s Big Four accountancy firms have refused to back a government scheme that would see them share audit work with smaller firms. Last month, Deloitte, EY and PwC said they did not support the government’s proposal for “managed shared audits” of large listed companies. The Financial Times has reported that the other Big Four [...]
Channel 4 bring in ex-Ofcom chief in bid to fight privatisation August 15, 2021 Channel 4 has brought in the former head of media watchdog Ofcom to help try and fight off the network’s planned privatisation. Flint Global, a firm founded by former Ofcom boss Ed Richards, has been drafted in by the network as it tries to avoid being sold in private hands. The Sunday Telegraph also reports [...]
German MPs fail in bid to publish ‘dynamite’ report on EY’s Wirecard audits August 13, 2021 Germany’s highest court has rejected an attempt by MPs to force the publication of an unredacted report into EY’s audits of Wirecard, according to reports. The lawsuit was filed by MPs who had investigated the Wirecard fraud, one of the biggest corporate scandals, according to the Financial Times. The Federal High Court of Justice has [...]
UK GDP soars in second quarter as Covid unlocking turbo-charges economy : CityAM August 12, 2021 The burst in consumer spending triggered by the gradual lifting of Covid prevention measures in April and May boosted the UK economy in the second quarter, according to fresh official data released today. Figures from the Office for National Statistics reveal the UK economy grew 4.8 per cent in the second quarter of this year, [...]