EY’s feuding leaders said they were making progress in talks aimed at reviving the company’s plan to split in two, amid concern from clients about the future shape of the firm. The joint statement sent to the Big Four accounting firm’s 13,000 partners on Friday marked a break from weeks of conflicting messages from the
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Recharge Industries’ attempt to buy the Britishvolt site is at risk of collapse due to a dispute between the Australian company and administrator EY over a power supply contract signed by the failed battery start-up, according to people familiar with the matter. The Geelong-based business bought Britishvolt’s intellectual property — 23 staff and its prototype
Minutes after Donald Trump released a statement on Thursday night calling a Manhattan grand jury’s vote to indict him on criminal charges “political persecution” and a “witch-hunt”, Republican Florida governor Ron DeSantis leapt to the former president’s defence. “The weaponisation of the legal system to advance a political agenda turns the rule of law on
Most Brits of a certain age are familiar with the tale of Michael Fish — a meteorologist who graced our TV screens for decades. He became a go-to cultural reference point in October 1987 when he said, on a live television weather report, that a woman had called the BBC asking if a hurricane was
For more than two years, the Chinese authorities have been cracking down on large parts of the private sector, from indebted property companies to data-sensitive tech groups. The campaign was so intense that prominent tycoons such as internet billionaire Jack Ma sought refuge overseas. But this week, just as China’s entrepreneurs were beginning to look
United Utilities and Yorkshire Water were responsible for 124,000 sewage spills by water companies in England last year, more than 40 per cent of the number recorded, according to the country’s pollution watchdog. Data published by the Environment Agency on Friday showed 10 water and sewerage companies operating in England spilled sewage into rivers and
On the tarmac of Waco Regional Airport last weekend, just a few miles from the site of the deadly stand-off between federal law enforcement and members of the Branch Davidian religious cult 30 years ago, Donald Trump delivered his latest, defiant manifesto for his place in American politics. “I am your warrior, I am your
The Kremlin has adopted a new foreign policy doctrine which identifies the US as the “main source of threats” to Russian security while describing Russia as a “distinctive state-civilisation” with a “unique historical mission”. The document is the first update to the doctrine since 2016 and reflects the “radical changes in the international affairs”, President
The indictment of Donald Trump takes America into truly uncharted waters. Never before has a current or former US president faced criminal charges. The indictment brought against him in New York falls well short of the allegations being investigated elsewhere that he fomented an assault on the US Capitol to overturn the result of an
Donald Trump will turn himself in to New York prosecutors on Tuesday, his lawyer said, insisting the former president would “not be put in handcuffs”. Joe Tacopina added he expected the charges — the first criminal indictment in history of an ex-US president — to relate to payments to buy the silence of porn actress
The writer is an FT contributing editor and writes the Chartbook newsletter Faced with a rash of banking crises it is tempting to declare, plus ça change. There is nothing more inevitable than death, taxes and bank failures. But what about the bailouts? The publicly subsidised takeover of Credit Suisse by UBS and the hasty
Russian and Belarusian tennis players will be allowed to compete in this year’s Wimbledon Championships after a ban in place since last year was lifted on Friday by the UK’s governing body for the sport. The Lawn Tennis Association last year barred players from the two countries from entering tournaments held in Britain following Russia’s
Just after sunset on Tuesday, Humza Yousaf led his family in Islamic prayer and broke his Ramadan fast in unusual surroundings: the 18th-century chandeliered drawing room of Bute House, grand Edinburgh residence of Scotland’s first ministers. Yousaf, 37, had just made history. Scotland’s devolved parliament had that day confirmed him as the nation’s first Muslim
The Biden administration has offered limited relief to carmakers worried about being frozen out of generous new US tax credits for electric vehicles, proposing rules on battery minerals that would expand access to the subsidies. The long-awaited guidance released by the Treasury department on Friday spells out details on EV incentives established by the Inflation
A top UK fund manager has defended domestic pension funds for cutting their exposure to London-listed stocks, warning that the City has fallen into the “backwater” of global equity markets. Nick Train, who co-founded investment firm Lindsell Train, which manages over £18bn, said that “the sad fact is you can understand pension fund asset allocators’
Donald Trump on Thursday became the first former president to be indicted in the near-250-year history of the US. Trump, who leads in polling to be the Republican candidate for president in 2024, was charged by a New York state grand jury following an investigation by Manhattan district prosecutors led by Alvin Bragg. Trump, 76,
Passengers flying from London’s Heathrow airport face potential disruption over the Easter holidays after security staff began a strike in a row over pay. More than 1,400 members of the Unite union began 10 days of industrial action on Friday after last-ditch talks to find a deal broke down. The strike will run until Easter
Eurozone inflation has fallen more steeply than expected to its lowest level for a year after a decline in energy costs. But economists warned an acceleration in the rate of price increases for food and services was likely to worry the region’s rate-setters. Consumer prices in the euro area rose 6.9 per cent in the
China’s non-manufacturing sector activity expanded at the fastest rate in more than a decade in March, but manufacturing growth dipped from the previous month in further signs of an uneven recovery as the economy struggles to emerge from the shadow of the pandemic. The National Bureau of Statistics non-manufacturing purchasing managers’ index, which includes the
European stocks and US futures inched higher on Friday ahead of closely watched inflation readings on both sides of the Atlantic, with traders on the alert for the impact on consumer prices of higher interest rates. Europe’s region-wide Stoxx 600 was flat shortly after opening and is on track to finish the quarter up more
During the depths of the global financial crisis, Colm Kelleher was instrumental in keeping Morgan Stanley afloat — an experience the Irish finance veteran will draw on as he oversees the biggest bank takeover since those tumultuous days. “He was on the phone with regulators all the time,” recalled John Mack, Morgan Stanley’s chief executive