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The Latest Breaking News from KPMG

KPMG US Joins Deloitte In Scrapping DEI: The 'Big Four' Retreat From Diversity

KPMG also quietly removed its annual transparency reports which detailed the company's efforts to increase hiring among women and minority groups.

International Business Times UK

Economists less confident of RBA rate cut than market

An AAP survey of 32 leading Australian economists has tipped the Reserve Bank to cut interest rates this week, but more than one in five remain unconvinced.

AAP

January sales give retail stores their strongest growth in almost two years

Total retail sales across the UK increased by 2.6% year on year in January, according to the British Retail Consortium (BRC) and KPMG.

The Independent UK

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Business hiring at its weakest since the pandemic following Budget tax raid on employers

Researchers warns there is unlikely to be any “significant improvement” in the near future

Evening Standard

Almost half of workers that use AI on the job dont trust it, new survey shows

A new study shows that most employees use artificial intelligence (AI) regularly but admit they don’t fact-check its results before using it at work.

Euronews

Starmer to look at report on legality of Drax power station subsidies

The Government has previously faced calls to end financial support for companies such as Drax which generate electricity from burning wood.

Evening Standard

Top clothing chains to close, shedding hundreds of jobs

More than 250 outlets of two leading retail chains will close, costing nearly 1000 jobs, after receivers failed to find a buyer for the stores.

AAP

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CFOs should take Trump's tariff plans 'very seriously,' says KPMG exec

There are three major factors corporate tax departments must face in 2025.

Fortune

ExpressVPN review 2025: Hands-down the most effortless VPN I’ve tested

ExpressVPN was a dream to test thanks to its no-fuss user interface, and is blazing fast to boot

The Independent UK

US Fed Prepares To Pause In First Rate Decision Since Trump's Inauguration

The US Federal Reserve is expected to announce a pause in rate cuts on Wednesday, as policymakers look to continue tackling inflation under close and vocal scrutiny from President Donald Trump.

International Business Times

KPMG under investigation over audit of gambling company Entain

FRC confirms inquiry into accounting firm’s 2022 audit of Ladbrokes, Coral and Sportingbet owner

The Guardian - UK

KPMG being probed by accounting watchdog over Entain audit

The Financial Reporting Council said it had launched an investigation into KPMG’s work on Entain’s 2022 accounts.

Evening Standard

Lenders expect mortgage demand to shrink in early 2025, Bank of England finds

The latest survey findings point to the financial strain on households against a backdrop of continued inflationary pressures, one expert said.

Evening Standard

Retail sales saw ‘solid’ growth in final month of 2024, experts say

The Scottish Retail Consortium said 2024 on the whole, however, was a ‘tepid’ year for sales in Scotland.

Evening Standard

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The Guardian - UK

Permanent job vacancies in UK shrink at fastest pace for four years

Job market data deepens sense of gloom enveloping UK plc as analysts plan close look at effects of NICs rise on hiring

The Independent UK

New Budget blow for Starmer as retailers warn of price hikes and job cuts

Retailers will be particularly hard hit by chancellor Rachel Reeves’s planned hike to employers’ national insurance

Evening Standard

Less than a fifth of people have switched bank account in past year – survey

Cash incentives, better customer service and more competitive interest rates were among the top reasons why people said they had last switched.

The Guardian - UK

Most UK businesses expect to grow in new year, surveys find

Economic confidence polls reveal that 70% expect turnover to rise and 73% expect profitability to rise

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Evening Standard

Finance bosses ‘optimistic’ about Labour plans to cut red tape, survey finds

Polling by KPMG found more than half of the finance industry plans to ramp up hiring in early 2025.

Fortune

Amazon and AT&T want an end to remote work: will 2025 finally be the death of WFH?

With the pandemic behind us, some executives argue that remote work has outlived its usefulness. Yet the data tells a different story.

International Business Times UK

Who Is Eric Moneyham? Finance Consultant Sucker Punches NY Optometrist, Attacks Others in NJ

Finance consultant Eric Moneyham faces charges for a violent spree, including sucker-punching an optometrist and healthcare workers.

Fortune

Macy’s employee responsible for a $151 million accounting scandal made one mistake that snowballed into intentional coverup

“This was not theft,” Macy’s chief financial officer confirmed Wednesday.

The Independent UK

Business confidence tumbles to two-year low following Reeves’s raid on employers

Bosses expect orders to fall, costs to rise and consumer confidence to be hit

The Guardian - UK

UK job vacancies fall at fastest rate since pandemic as business confidence slumps

Blow to Labour growth hopes as poll finds demand for staff falling at ‘sharp and accelerated pace’, particularly in permanent roles

The Guardian - AU

New home construction slumps to near 40-year low in Australia as renovation spending booms

‘This indicates that there is not enough money and resources being attracted to expanding the housing stock,’ urban economist says

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