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One of the firm’s former audit partners was fined £60,000

Professional Services Correspondent

PwC has been fined £2.5m by the audit watchdog for its failures following the discovery of a massive fraud in telecom company BT’s Italian unit in 2016.

BT uncovered a fraud in its Italian business in 2016, which forced it to issue adjustments of £513m in its 2017 financial statements.

PwC fined £2.5m over BT fraud audit failures

James Booth

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Find out who is on the move in the City and beyond this week

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CDPQ hires Sharon White to lead push in Europe

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Former chair of the John Lewis Partnership is joining the Canadian pension fund giant early next year

One of the top investors in Adani Group launched an on-market share buyback to protect its share price against the contagion from a U.S. investigation into the Indian conglomerate.

GQG Launches Buyback After Stock Tumbles on Adani Probe

The president-elect floated the idea during a Wednesday meeting with the former Fed governor.

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Trump Considers Warsh Serving as Treasury Secretary—and Then Fed Chair

The U.S. auditing watchdog voted to require certain audit firms to disclose eight new metrics ranging from auditor turnover to partner involvement and restatement history.

Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator

The AI titan will maintain its strong lead, but complicated product rollouts, sky-high expectations and the China threat add complications to growth potential.

Nvidia Is on Top but Does It Have Anywhere to Go but Down?

Research group GfK’s measure of consumer confidence climbed to minus 18 in November’s survey from minus 21 in October.

U.K. Consumers Cheerier Ahead of Holidays as Budget, U.S. Election Jitters Fade

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