Keep up to date with what’s been going on this week in our accountancy and finance news round-up…

Ford set to close Bridgend engine plant in 2020

Ford’s engine plant in Bridgend is set to close in autumn 2020, with the loss of 1,700 jobs.

City regulator bans high overdraft fees to reform ‘dysfunctional’ market

The City regulator has accused UK banks of causing “significant harm” to their most vulnerable customers as it pushes ahead with a ban on excessive overdraft fees.

PwC reveals “big deal” tech plan to boost audit quality

PwC has committed to an additional £30m annual spend to boost training, employee numbers and technology in a bid to improve its audit process.

1825 makes £30m bid for Grant Thornton advice arm

Standard Life Aberdeen’s national advice firm, 1825, has approached Grant Thornton to buy its advice arm for £30 million, according to Sky News.

Labour plans property tax overhaul

The Labour Party is considering the findings of “Land for the Many”, a report commissioned by party leadership on land ownership and governance in the UK.