Keep up with the latest accountancy and finance news in our weekly round-up..

Financial markets surge after £87bn Chinese cash increase

Financial markets around the world have started this year on a high, with stocks rallying in Europe and setting fresh records on Wall Street as optimism grows over the improving global economic outlook.

Energy firms to pay £10.5m over August power cut

Three energy firms are to pay a total of £10.5m following August’s power cut that left over a million people without electricity and caused travel chaos.

Travel software firm Datalex appoints Deloitte as auditor

Datalex, the travel software company caught in controversy over accounting irregularities, has appointed Deloitte as its new auditor.

KPMG, PwC, EY to put $9bn toward AI, data tech

The largest accounting firms – EY, Deloitte, KPMG and PwC – are investing billions of dollars in artificial intelligence and data technology products to change the industry in new ways, according to a report by Bloomberg Tax.

Small business confidence plunges to eight-year low

The UK’s small business community were pessimistic about heading into the new year without certainty on Brexit, and concerns about the future direction of global trade and rising employment costs, according to FSB’s latest Small Business Index.