FirstFT: Companies and accountants attack Britain’s “overburdened regulation”


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Companies and accountants have Attack overhaul plan The British audit and corporate governance after the financial scandal claimed that these changes would stifle corporate growth and increase costs.

The Alliance of Listed Companies, which represents small and medium-sized listed companies, said that the cost of “overburdening supervision” is already shrinking the open market, and reforms risk “making the situation worse”.

KPMG, one of the four major auditors, stated that the plan to reform audit practices will not improve the quality of financial statement reviews.

After a series of financial scandals such as BHS, Carillion and Patisserie Valerie, the government proposed changes to auditing and corporate governance. The public consultation on the white paper on reform of the Ministry of Commerce ended today.

There are five more stories in the news

1. The Gates Foundation announces its spin-off plan A $50 billion charitable foundation has Announced a plan If Melinda French Gates or Bill Gates decide not to cooperate, this will allow Melinda French Gates to resign Co-Chairman, and obtained “personal resources” from her separated husband for her own philanthropy.

Bill Gates and Melinda Frank Gates have built the foundation of the wealth that Bill has accumulated as a co-founder of Microsoft in the past 21 years © Bloomberg

2. Assassination of the President of Haiti President of Haiti Jovenel Moïse (Jovenel Moïse) Assassinated In the early hours of Wednesday morning, he was in a private residence in the suburbs of Port-au-Prince. The police said they shot and killed four people suspected of killing and arrested two others.

3. Anti-monopoly cooperation between the UK and Europe Both parties are planning Work more closely Through sharing information and investigations, this is a rare bright spot in the post-Brexit relationship. Plans under negotiation include being able to participate in confidential oral hearings and coordinating requests for evidence from companies suspected of anti-competitive behavior.

4. Trump sues Facebook, YouTube and Twitter The former president said yesterday that he will Leadership class action In a lawsuit accusing Americans of “illegal censorship,” they opposed large technology platforms and their chief executives Mark Zuckerberg, Jack Dorsey, and Sundar Pichai.

5. Downing Street’s cladding request The British government has asked the country’s largest banks, including HSBC CEO Noel Quinn and NatWest boss Alison Rose, to help propose Quickly resolve the cladding crisisAfter the Grenfell Tower fire in 2017, as many as 2 million people were unable to sell their homes.

Coronavirus Digest

  • Scientists blame the British government Ignore the threat of “Long Covid”, This can last for months or years.Plan to restart Exemption from quarantine for travel abroad For the Double Thorn England residents will Announce Nowadays.

  • Increased infection rates driven by Delta variants forced Israel to Reintroduce restrictions For the first time since January,

  • U.S. Federal Reserve Officials held The heated debate last month The minutes of the June meeting show when the U.S. economic rebound will be strong enough for the central bank to start curtailing stimulus measures.

  • on 22 million fewer people Compared to before the pandemic, jobs in advanced economies OECD.

Follow our live coronavirus Blog with Sign up For us Coronavirus business update Newsletter for more Covid-19 news.

the day before

The European Central Bank’s “Core Decision” Policymakers have agreed to the central bank’s first New strategy In nearly two decades, this will be announced today at 13:00 Central European Time, and it may modify the inflation target and address the issues of climate change and housing costs.EU economic growth this year will be Fastest in decades, According to the latest forecast of the European Commission.

Economic data RICS House Price Balance Releases Latest Data Polls About the cost of housing in the UK.In the United States, economists Expected Weekly unemployment applications will fall to 350,000 in May, and consumer credit will drop slightly to 18.5 billion US dollars. (“Financial Times”, “Wall Street Journal”)

With the revision of the British “Financial Times”, keep up with important business, economic and political stories in the coming days A week ahead communication.subscription Here. Don’t miss our FT Newsletter Audio program-a short daily summary of the world’s top stories.

What are we still reading

Conservative Party’s money machine Major party donor Mohamed Amersi is involved in a legal battle over a proposal to expand his influence in the Conservative Party.After the Greenseal scandal, Boris Johnson’s Downing Street refurbishment, and funding for the Covid-19 contract, the conflict surrounding Amersy’s growing influence highlighted the party’s concerns about From whom.

Italy’s great survivor Silvio Berlusconi has been tempting Italy with stories of entrepreneurial courage and perseverance for decades. Planning his final scene: Inheritance.The problem facing one of Europe’s most controversial politicians and businessmen is knight left.

Vladimir Putin’s “champagne” strategy Last week, the President of Russia signed a law banning the use of the term “champagne” in imported bottles and keeping it for domestic production. His strategy is the latest ineffective protectionist trade measures, designed to help troubled local producers, or to comfort friends with business interests. Henry Foy wrote.

It’s home England deservedly entered their first football final in 55 years. The match against Denmark last night showed the calm and game intelligence they failed to achieve in the World Cup in Russia three years ago. Read Simon Kuper’s analysis 2-1 victory.

The price increase filters into your morning brew Coffee bean price As the crops of Brazil’s largest producer suffered the worst drought in nearly a century, prices on the international market have soared. Anti-government protests in Colombia also stopped exports this year, pushing up prices.

Line chart of ICE Arabica coffee (USD per pound) showing coffee price increase

Work and career

Assumptions about traditional career paths and their duration have been overturned. Nearing retirement provides opportunities to develop skills.this is How to prepare Life after an intense career.

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