Raymond Phung

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Carillion collapse: FRC to investigate KPMG over audit work - Accountancy Age

<b>The Financial Reporting Council (FRC)</b> has opened an investigation into <b>KPMG’s</b> audit work for embattled construction company Carillion, which <b>entered</b> …

Finance

KPMG delivers new bombshell to partners over taxman's unpaid bill

Sky News‎ has learnt that KPMG wrote last week to approximately 500 existing and retired UK partners with estimates of their individual "worst-case" …

Use of tax havens by European banks revealed

The major European banks continue to take advantage of tax havens to fill their coffers.<p>That’s according to a report by the anti-poverty charity Oxfam, published on Monday.<p>It concluded that 20 major European banks make a quarter of their profits, or 25 billion euros in these low tax …

Volkswagen emissions scandal: $15bn settlement gets preliminary approval

Federal judge cites ‘enormous effort’ by lawyers on both sides, pointing to environmental benefits of deal that includes vehicle buyback program<p>A nearly $15bn settlement over Volkswagen’s emissions cheating scandal cleared a key hurdle on Tuesday, with a federal judge giving preliminary approval to …

Automotive Industry

UK car manufacturing hits high but industry warns of Brexit effect

900,000 cars were built in first six months of year – the most since 2000 – but industry figures say the outlook is uncertain<p>British car manufacturing hit a 16-year high in the first half of 2016, but the industry says future growth, jobs and investment are at risk following the Brexit vote.<p>Almost …

Manufacturing Sector

Deflation: What it means in practice

<b>In March 1960 Eisenhower was in the White House, Macmillan was in Downing Street, and Cliff Richard and Perry Como were in the Top 10 of the pop charts.</b><p>It was also the last time that the UK had negative inflation, according to the Consumer Prices Index (CPI).<p>In fact back then inflation had been …

Economics

How can inflation be good for you?

<b>So, the governor of the Bank of England, Mark Carney, is filling his fountain pen, and looking for a stamp.</b><p>Now that inflation has fallen to 0.5% on the Consumer Prices Index (CPI) measure, he's got to write a letter to the chancellor, explaining why inflation has missed the Bank's target of 2% by …

Economics

Families spending less than in 2006, says ONS

<b>Family spending rose to £517.30 a week last year - but remains below pre-crisis levels when inflation is taken into account, official figures show.</b><p>Housing costs, such as rent and fuel, were top of the expenditure list, ahead of transport costs.<p>The amount spent per household rose from £501 in 2012, …

Housing

Eurozone inflation rate falls to 0.3%

<b>The eurozone's inflation rate fell to 0.3% in November, from 0.4% in October, suggesting that deflation remains a threat for the 18-nation bloc.</b><p>Eurostat, the European Union's statistics agency, said that the rate was pulled down by lower energy prices.<p>The European Central Bank considers anything …

Economics

Eurozone area may be in 'persistent stagnation trap' says OECD

<b>The euro area may be stuck in persistent stagnation, the Organisation for Economic Co-operation and Development has said.</b><p>Insufficient policy stimulus could be undermining potential growth, and risks deflation in the area, the market economy group said.<p>Meanwhile, Japan will grow less than previously …

Economics