Business news

• McDonald's begins reopening restaurants for dine-in customers as it tests safety procedures

  14-07-2020 23:59 via uk.finance.yahoo.com
  
  McDonald’s has announced it has reopened four of its restaurants for dine-in customers across the UK and Ireland to test safety procedures.The fast food giant said the move will see restaurants reopen with table service only, reducing capacity by as much as 70 per cent to enable social distancing.
  
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• BHP faces first step in £5 billion UK claim over Brazil dam failure

  14-07-2020 23:10 via uk.finance.yahoo.com
  
  More than 200,000 Brazilian people and groups will next week kick off a 5 billion-pound lawsuit against Anglo-Australian miner BHP in Britain over a 2015 dam failure that led to Brazil's worst environmental disaster.An initial, eight-day hearing will establish whether the case can be heard in Britain, although the judge is expected to reserve judgment until later in the year.BHP spokesman Neil Burrows said the claim did not belong in Britain because it duplicated proceedings in Brazil and the on
  
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• Tesla barred from using 'Autopilot' name in Germany

  14-07-2020 22:50 via uk.finance.yahoo.com
  
  Tesla cannot call its driver assistance system "Autopilot", a German court has ruled. Ruling on a lawsuit brought by a German competition regulator, the Munich Regional Court barred the electric car company from marketing its vehicles using the phrases "full potential for autonomous driving” and “Autopilot inclusive”. Dr Andreas Ottofülling, lawyer for the Wettbewerbszentrale anti-competition industry group, said: "Since autopiloted and autonomous driving at level 5 is cur
  
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• Investors face an uncharted course

  14-07-2020 22:28
  Mike Mackenzie’s daily analysis of what’s moving global markets
  
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• WhatsApp down: Messaging app stops working for users across world

  14-07-2020 22:23 via uk.finance.yahoo.com
  
  WhatsApp has gone down, leaving its millions of users without the ability to send or receive messages.The problems at the app were quickly fixed – but, with more than two billion people on the service, even the briefest of outages can hit a huge number of people.
  
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• FDA panel votes in favour of approving GSK's multiple myeloma drug

  14-07-2020 22:23 via uk.finance.yahoo.com
  
  An independent panel to the U.S. Food and Drug Administration on Tuesday voted in favour of approving GlaxoSmithKline'sexperimental treatment for a common form of blood cancer, saying the benefits of the treatment outweigh the risks.Approval for belantamab mafodotin as a treatment for multiple myeloma is seen as important for GSK's growing oncology portfolio.The drug is a rival to Johnson & Johnsonand Genmab'sDarzalex treatment.
  
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• Trump says he is not interested in talking to China about Phase 2 deal

  14-07-2020 22:20 via uk.finance.yahoo.com
  
  U.S. President Donald Trump said on Tuesday he is not interested in talking to China about a Phase 2 trade deal."I'm not interested right now in talking to China," Trump replied when asked in an interview with CBS News whether Phase 2 trade talks were dead."We made a great trade deal," Trump said, referring to the Phase 1 agreement signed in January.
  
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• Trump says he is 'not interested' in trade talks with China

  14-07-2020 22:20 via uk.finance.yahoo.com
  
  U.S. President Donald Trump on Tuesday shut the door on "Phase 2" trade negotiations with China, saying he does not want to talk to Beijing about trade because of the coronavirus pandemic."I'm not interested right now in talking to China," Trump replied when asked in an interview with CBS News whether Phase 2 trade talks were dead."We made a great trade deal," Trump said, of the Phase 1 agreement signed in January.
  
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• Virus worries and FOMO drive options bets on surging tech giants

  14-07-2020 22:09 via uk.finance.yahoo.com
  
  Options investors are ramping up bets on some of this year'sbiggest winners, including Amazon.com Inc , Netflix Incand Tesla Inc , even as they turn cautious on the wider market amid a resurgent U.S. coronavirus outbreak.Investors are betting that tech-related stocks will remain comparatively resilient to the coronavirus-fueled economic disruptions that have battered sectors such as retail and travel, despite growing concerns about stretched valuations following steep rallies.Analysts also see a
  
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• Massachusetts sues Uber, Lyft over driver status as contractors

  14-07-2020 21:58 via uk.finance.yahoo.com
  
  The complaint filed in Suffolk Superior Court claims Uber and Lyft violate state minimum wage, hour and sick time laws."Uber and Lyft have built their billion-dollar businesses while denying their drivers basic employee protections and benefits for years,” Massachusetts Attorney General Maura Healey said in a statement.
  
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• Boeing sells just one plane in June amid crisis in aviation

  14-07-2020 21:44 via uk.finance.yahoo.com
  
  The lockdown has compounded problems following the grounding of the 737 Max.
  
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• Asos axes UK suppliers over ethics worries

  14-07-2020 21:41 via uk.finance.yahoo.com
  
  Fast fashion firm Asos has axed contracts with a string of clothing suppliers after it uncovered possible serious threats to workers' health, safety or human rights. The company's inspectors found major ethical breaches at almost a quarter of suppliers visited in 16 countries, including seven sites in the UK, according to a 2018 report leaked to the Telegraph. Since then, Asos has cut the number of factories where there are serious risks to 10pc. In the UK it has ditched one supplier in Leiceste
  
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• Asos axes almost a quarter of UK suppliers over ethics worries

  14-07-2020 21:41 via uk.finance.yahoo.com
  
  Fast fashion firm Asos has axed contracts with a string of clothing suppliers after it uncovered possible serious threats to workers' health, safety or human rights. The company's inspectors found major ethical breaches at almost a quarter of suppliers visited in 16 countries, including seven sites in the UK, according to a 2018 report leaked to the Telegraph. Since then, Asos has cut the number of factories where there are serious risks to 10pc. In the UK it has ditched one supplier in Leiceste
  
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• Asos axed UK suppliers over ethics worries

  14-07-2020 21:41 via uk.finance.yahoo.com
  
  Fast fashion firm Asos axed contracts with a string of clothing suppliers after it uncovered possible serious threats to workers' health, safety or human rights. The company's inspectors found major ethical breaches at almost a quarter of suppliers visited in 16 countries, including seven sites in the UK, according to a 2018 report leaked to the Telegraph. Since then, Asos has reduced the risk to 10pc. In the UK it has ditched one supplier in Leicester - the city at the centre of allegations ove
  
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• Can Netflix stay one of Wall Street's favorite pandemic stocks? Results due Thursday

  14-07-2020 21:37 via uk.finance.yahoo.com
  
  Netflix Incwill tell investors on Thursday how home-bound audiences and a lack of live sports have boosted its membership rolls even as streaming competition rises to unprecedented levels.Shares of the online video pioneer, trading close to an all-time high at $517.94 on Tuesday, have jumped more than 73% since mid-March when much of the world was urged to stay home to help slow the spread of the novel coronavirus.In April, Netflix wowed Wall Street by reporting twice the number of expected sign
  
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• Google faces lawsuit over tracking in apps even when users opted out

  14-07-2020 21:34 via uk.finance.yahoo.com
  
  Alphabet Inc's Google records what people are doing on hundreds of thousands of mobile apps even when they follow the company's recommended settings for stopping such monitoring, a lawsuit seeking class action status alleged on Tuesday.The data privacy lawsuit is the second filed in as many months against Google by the law firm Boies Schiller Flexner on behalf a handful of individual consumers.The firm's clients also have included Google competitors such as Facebook Inc and Oracle Corp.
  
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• Nicole Thea: fans pay tribute to Instagram influencer who died with unborn baby

  14-07-2020 21:32 via uk.finance.yahoo.com
  
  Nicole Thea: fans pay tribute to Instagram influencer who died with unborn babyHundreds of thousands of people followed pregnancy of Miss Thea, 24, on social media
  
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• Boeing sells just one plane in June amid crisis in aviation due to coronavirus

  14-07-2020 21:28 via uk.finance.yahoo.com
  
  Boeing sold just one plane last month as the global aviation industry continues to face a widespread crisis prompted by the coronavirus pandemic.The Chicago-based aircraft maker reported that customers cancelled orders for 60 of its grounded 737 Max jets in June.
  
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• Investors signal risks ahead of key cabinet meeting on Atlantia licence

  14-07-2020 21:22 via uk.finance.yahoo.com
  
  Investors and unions signalled risks ahead of an Italian cabinet meeting late on Tuesday that was expected to consider whether to strip Atlantia of its toll road licence following a bridge disaster in 2018.Fondazione CRT, which owns nearly 5% in Atlantia , and a key foreign shareholder in motorway unit Autostrade per l'Italia warned that the government could scare off foreign investors if it revoked Autostrade's licence.Employees and small savers would bear the brunt of the government decisions,
  
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• Atlantia makes Italy government last-ditch offer to save toll road licence

  14-07-2020 21:22 via uk.finance.yahoo.com
  
  Atlantia's motorway unit Autostrade per l'Italia has made the Italian government a new offer to settle a long-running dispute and prevent its concession being withdrawn, sources familiar with the matter said on Tuesday.Rome has been threatening to revoke the licence since the collapse in 2018 of a bridge in Genoa that was run by the motorway operator, killing 43 people, but the ruling parties are divided over the issue.Autostrade's last-ditch offer, presented as ministers gathered for a late nig
  
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• Market report: Cautious investors deflate bond yields

  14-07-2020 21:05 via uk.finance.yahoo.com
  
  The yield on UK two-year bonds dropped to a fresh record low on Tuesday as a risk-off mood on global markets drove investors towards haven assets such as bonds. Key European markets Frankfurt and Paris closed around 1pc lower as fears resurfaced over a spike in coronavirus infections and renewed lockdowns. Fiona Cincotta, City Index analyst, said: “The shutdown fuels fears that the growing number of coronavirus cases will hamper the fragile economic recovery.” However, rises for some
  
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• Former Barclays banker Roger Jenkins exaggerated role of ex-wife in Barclays rescue

  14-07-2020 20:54 via uk.finance.yahoo.com
  
  Former Barclays banker Roger Jenkins has told a court that he exaggerated the role his ex-wife played in a crisis-era cash call in an attempt to save his marriage. The banker’s success in securing the firm cash for a 2008 rescue deal was believed to partly rest on the shoulders of his former wife Diana, a key networker in their relationship who forged a crucial role in overseeing what she called “the Roger brand”. His former wife is understood to have introduced him to the Qata
  
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• Why the UK has decided to ban use of Huawei’s 5G kit

  14-07-2020 20:42
  Government concluded that company’s products posed threat to security of UK infrastructure
  
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• Big US banks set aside $28bn in downturn warning

  14-07-2020 20:42 via bbc.co.uk
  
  JP Morgan, Citigroup and Wells Fargo warn loans may turn sour as the pandemic hits businesses.
  
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• Asda bosses wait for ruling in Supreme Court equal pay fight

  14-07-2020 20:39 via uk.finance.yahoo.com
  
  Store workers have brought claims after complaining that staff in distribution depots unfairly get more money.
  
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• Judge rejects $19 million Weinstein settlement as unfair to victims

  14-07-2020 20:38 via uk.finance.yahoo.com
  
  A US judge on Tuesday rejected a proposed $19 million (£15m) civil settlement for women who have accused film director Harvey Weinstein of sexual harassment, which lawyers had decried as a “complete sellout”. The tentative deal, originally announced late last month, would have permitted dozens of accusers to claim between $7,500 and $750,000 from Weinstein, his brother Robert, and their defunct film studio. But lawyers representing six of the accusers, criticised the proposal a
  
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• Huawei decision 'may delay 5G rollout by three years and cost UK £7bn'

  14-07-2020 20:36 via uk.finance.yahoo.com
  
  Huawei decision 'may delay 5G rollout by three years and cost UK £7bn'. Experts warn small towns and rural areas will be hardest hit by UK ditching Chinese firm
  
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• Huawei decision 'may delay 5G by three years and cost UK £7bn'

  14-07-2020 20:36 via uk.finance.yahoo.com
  
  Huawei decision 'may delay 5G by three years and cost UK £7bn'Experts say small towns and rural areas will be hardest hit by UK ditching Chinese firm
  
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• Virgin Atlantic: a successful non-intervention by the Treasury

  14-07-2020 20:31 via uk.finance.yahoo.com
  
  Virgin Atlantic: a successful non-intervention by the Treasury. Sir Richard Branson didn’t really need to borrow £500m, as talk of a return to profitability in 2022 proves
  
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• Italy's Cucinelli sees 10% sales drop in 2020, to donate unsold stock

  14-07-2020 20:10 via uk.finance.yahoo.com
  
  Cucinelli, the first Italian luxury group to update the market on its second-quarter performance, said sales fell 30% in the first six months but were expected to recover in the second half."Already today, we can envisage a positive third and fourth quarters that should result in a mild drop in 2020 turnover of around 10%," Chairman Brunello Cucinelli said in a statement.The fallout from lockdowns in April to June was bigger than the first three months of 2020, when group revenues fell just 2.9%
  
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• A1 Telekom Austria cuts 2020 revenue, investment forecast

  14-07-2020 20:09 via uk.finance.yahoo.com
  
  A1 Telekom Austrialowered its 2020 revenue forecast and cut its spending plans for the year after lower roaming income due to coronavirus-related travel restrictions and foreign exchange effects weighed on second-quarter core profit.The group, which is controlled by Mexico's America Moviland the Austrian state, said on Tuesday it now expects a 2% decline in full-year revenue after previously forecasting a 1-2% rise from last year's 4.57 billion euros."As the further effects of COVID-19 are diffi
  
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• Bulgarian banks extend loan payment moratorium

  14-07-2020 20:07 via uk.finance.yahoo.com
  
  The moratorium on bank loan payments was introduced in Apriland was expected to last until the end of the year, but the central bank agreed with a proposal by commercial banks to extend the scheme until the end of March 2021.Bulgaria has so far recorded 7,411 cases of the illness, with 276 deaths.Banks have already rescheduled payments on over 80,000 loans with a total value of 6 billion levs ($3.5 billion), which accounted for almost 10% of banks' credit portfolios, the Association of Banks in
  
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• BT: Huawei ban cost can be absorbed in £500m set aside from earlier cap

  14-07-2020 20:07 via uk.finance.yahoo.com
  
  Network providers must stop buying Huawei 5G equipment in 2021 and remove its 5G kit entirely by 2027.
  
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• The Huawei dispute is only one part of a wider UK-China struggle

  14-07-2020 20:04 via uk.finance.yahoo.com
  
  The Huawei dispute is only one part of a wider UK-China struggleCoronavirus, trade, Hong Kong and human rights are all in play as UK strips Huawei from its 5G
  
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• China hits out at UK decision to strip Huawei out of 5G networks by 2027

  14-07-2020 20:04 via uk.finance.yahoo.com
  
  The Chinese ambassador to the UK said the move was 'wrong'.
  
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• Rishi Sunak's capital gains tax review may usher in higher taxes on wealthy

  14-07-2020 20:03 via uk.finance.yahoo.com
  
  Rishi Sunak's capital gains tax review may usher in higher taxes on wealthy. Chancellor’s directive to focus on how people escape CGT ‘feels like starting pistol for a tax grab’, says analyst
  
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• Hospitality VAT cut may not be passed on to UK consumers

  14-07-2020 19:52 via uk.finance.yahoo.com
  
  Hospitality VAT cut may not be passed on to UK consumersRishi Sunak said tax would fall from 20% to 5% until 12 January 2021 but many firms plan to pocket difference* Coronavirus – latest updates* See all our coronavirus coverage
  
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• UK ministers prepare for civil servants to return to offices

  14-07-2020 19:47
  Whitehall departments will draw up risk assessments as part of wider move to revive city centres
  
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• Wanted: signs of V-shaped recovery in earnings reports

  14-07-2020 19:46 via uk.finance.yahoo.com
  
  Equity investors are no longer losing sleep over the short-term hit to company earnings from coronavirus lockdowns, instead they are looking for early evidence to support the V-shaped recovery narrative that has lifted stocks out of their mid-March crash.As Europe Inc starts churning out trading updates expected to show a more than 50% dive on average in second-quarter profits, many investors are keen to see whether the market bounce back can be sustained.European stocks have on average risen a
  
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• Google hit with 600,000 euro Belgian privacy fine

  14-07-2020 19:37 via uk.finance.yahoo.com
  
  Google has received a record fine from Belgium's data protection authority (APD) of 600,000 euros for not complying with European rules on a person's "right to be forgotten" online.Googlefailed to remove links from its search results to articles which APD said were "obsolete" and damaging to the reputation of a person with a public profile in Belgium.Google was "negligent" in deciding not to remove the links, given that the company had evidence that the facts were irrelevant and out of date, APD
  
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• Goldman Sachs unit buys stake in Permira - sources

  14-07-2020 19:35 via uk.finance.yahoo.com
  
  A unit of Goldman Sachs Group Inchas bought a stake in the private equity firm Permira, three people with knowledge of the matter said on Tuesday.Permira will use the funds as a war chest to finance expansion in the private equity sector, the people said.Two of the people said that the stake was below 10%, and valued Permira at more than 5 billion euros.
  
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• Time is pressing on EU leaders to agree budget, recovery fund - Merkel

  14-07-2020 19:32 via uk.finance.yahoo.com
  
  Time is pressing on EU member states to reach a deal on proposals for a long-term budget and a stimulus plan, Chancellor Angela Merkel said on Tuesday, adding that Germany would push for a compromise at a summit of leaders this week."It would be desirable to reach a quick result but I don't know whether there will be success on Friday and Saturday," Merkel said during a news conference with Spanish Prime Minister Pedro Sanchez.Merkel reiterated that there is no guarantee EU leaders will bridge t
  
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• Thailand's AIS says Huawei among bidders to build 5G core networks

  14-07-2020 19:29 via uk.finance.yahoo.com
  
  Thailand's largest mobile operator Advanced Info Service Pcl said on Tuesday Huawei Technologies [HWT.UL] was among five companies bidding to build its 5G core networks as it ramped up investments this year.AIS's disclosure came as the British government ordered Huawei equipment to be eliminated from the country's 5G network by 2027 following U.S. calls on its allies to exclude the Chinese company on security grounds.Thailand, the United States' oldest ally in Asia, has said it would not exclude
  
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• Weak recovery could take unemployment to 1980s levels, warns OBR

  14-07-2020 19:28 via uk.finance.yahoo.com
  
  Weak recovery could take unemployment to 1980s levels, warns OBROffice for Budget Responsibility forecasts UK’s biggest peacetime deficit in 300 years* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Second board member to quit Huawei following UK ban

  14-07-2020 19:11 via uk.finance.yahoo.com
  
  A second director of Huawei UK is to quit the company after Sir Ken Olisa signaled plans to step down, just hours after the Government ordered a complete ban of the Chinese company’s kit from the UK’s 5G telecoms network by 2027. Sir Ken Olisa joins Lord Browne of Madingley, who also confirmed he plans to quit the firm amid mounting international pressure over the use of its technology. Sir Ken is the Lord Lieutenant of Greater London and former deputy chairman of the Institute of Di
  
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• Treasury forecaster's three stark predictions for Britain's economy

  14-07-2020 19:04 via uk.finance.yahoo.com
  
  Treasury forecaster's three stark predictions for Britain's economyWorst-case scenario warns output may not rise to pre-pandemic levels until 2024 * Coronavirus – latest updates* See all our coronavirus coverage
  
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• How do you value an EIS company in the post-Covid world?

  14-07-2020 18:56 via s17026.pcdn.co
  
  Originally written by Richard Angus on Growth Business
  The COVID-19 lockdown has dislocated the Enterprise Investment Scheme (EIS) funding world and the anticipated inflows of investment fell sharply in March at the end of the last tax year – the period in which traditionally we see a lot of activity. Some portfolio managers were no longer able to make some planned new investments
  
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• I’d listen to Warren Buffett and invest in this share

  14-07-2020 18:43 via uk.finance.yahoo.com
  
  Here is why I think that it’s time to invest in Cineworld shares based on advice from Warren Buffett and his mentor Benjamin Graham.The post I’d listen to Warren Buffett and invest in this share appeared first on The Motley Fool UK.
  
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• UK review of capital gains tax heralds future rises, experts say

  14-07-2020 18:38
  Wealth managers say chancellor’s move suggests CGT will be used to help fill public finances hole
  
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• UK accounting firms criticised by watchdog for ‘unacceptable’ work

  14-07-2020 18:34 via uk.finance.yahoo.com
  
  UK accounting firms criticised by watchdog for ‘unacceptable’ work. KPMG fares worst as regulator condemns slipping standards at largest auditors
  
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